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£1.4 TRILLION. That's approximately the value of Britain's current unfunded public sector pension liabilities.
Imo It's unaffordable and unfair the amount of money taxpayers pay towards teachers, doctors, police, armed forces, politicians, civil servants etc pensions. All this talk about cutting old age pensioners state pension, cutting welfare benefits for the sick and unemployed when public servants pensions are extremely generous that they seem to be unsustainable and are funded largely by ordinary taxpayers, cuts need to be made to these pensions or they should be scrapped and everyone put on DC pensions, yet conveniently nobody is talking about public sector pensions .
Continually being banned by Planet Swans for Porthcawl and then being reinstated.
My old man 92 and still kicking off as been picking up a civil service pension for 32 years £2k Pcm. Might keep going for a two or three more.
£24 in for 32 years is big Dosh.
You like me are a little compromised. Welsh patriot but I am more right wing than you and want more privatisation not less. UK project management and legal system has come up short with the water companies but did well with gas in particular.
UK is splashing the cash off borrowed money The triple lock has to go. We Welsh often just want to do just enough and can live off inheritance of parents who worked harder.
Westminster should make a late for deficit eradication and debt reduction. This would be from cutting waste. Why to benefits people need brand new cars. If so then they should be at least UK made . No trimmings.Ny next s door neighbour on benefits was getting a regular mobile car valet service.
The Senedd balances the books. Westminster should do the same excepting genuine investment for investment.
Public sector pensions unaffordable ? on 12:36 - Oct 5 by ReslovenSwan1
My old man 92 and still kicking off as been picking up a civil service pension for 32 years £2k Pcm. Might keep going for a two or three more.
£24 in for 32 years is big Dosh.
You like me are a little compromised. Welsh patriot but I am more right wing than you and want more privatisation not less. UK project management and legal system has come up short with the water companies but did well with gas in particular.
UK is splashing the cash off borrowed money The triple lock has to go. We Welsh often just want to do just enough and can live off inheritance of parents who worked harder.
Westminster should make a late for deficit eradication and debt reduction. This would be from cutting waste. Why to benefits people need brand new cars. If so then they should be at least UK made . No trimmings.Ny next s door neighbour on benefits was getting a regular mobile car valet service.
The Senedd balances the books. Westminster should do the same excepting genuine investment for investment.
24k x 32 years is over 3/4 of a million pounds for just one person.
The whole system should be scrapped, OAP should be the same as minimum wage and paid for by taxing rich peoples wealth and rich corporations, public sector pensions should be brought into line with ordinary peoples private pensions.
Continually being banned by Planet Swans for Porthcawl and then being reinstated.
The government deal for state pensions was pay your NI for a set period of years and you would receive a pension in your old age enough to live on. Now some not at pensionable age are calling for this to be be means tested. So why not make public sector pensions means tested. If you are going to backtrack on one because of the expense on the public purse, backtrack on public sector pensions also, surely someone relieving both is just milking the system.
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Public sector pensions unaffordable ? on 14:33 - Oct 5 with 1068 views
Public sector pensions unaffordable ? on 12:46 - Oct 5 by trampie
24k x 32 years is over 3/4 of a million pounds for just one person.
The whole system should be scrapped, OAP should be the same as minimum wage and paid for by taxing rich peoples wealth and rich corporations, public sector pensions should be brought into line with ordinary peoples private pensions.
Calculates a by ACTUARIES. For every pensioner in the 90s there is one who paid into a pot and never saw much of it dying in their 60s. The old man did his best to be one of those smoking for 52 year until he was 70. He some how dodged a bullet.
He has a terrible cough at 70 and just stopped there and then. Miraculously the cough went away.
Advice from Resolven . It's never too late to quit
Public sector pensions unaffordable ? on 14:33 - Oct 5 by ReslovenSwan1
Calculates a by ACTUARIES. For every pensioner in the 90s there is one who paid into a pot and never saw much of it dying in their 60s. The old man did his best to be one of those smoking for 52 year until he was 70. He some how dodged a bullet.
He has a terrible cough at 70 and just stopped there and then. Miraculously the cough went away.
Advice from Resolven . It's never too late to quit
You do not originate from Resolven do you ?, for some reason I thought you was an Aberdare snake ?
Continually being banned by Planet Swans for Porthcawl and then being reinstated.
Public sector pensions unaffordable ? on 15:07 - Oct 5 by trampie
You do not originate from Resolven do you ?, for some reason I thought you was an Aberdare snake ?
Resolven Aberdare Merthyr then Carmarthen and Neath in my formative years before heading to Lloegr and returning.
I watched Swansea play while in Birmingham and Newcastle are at Hartlepool and Halifax. The time of John Williams the flying post nam and Mama Sidibe. Then later in London with Legg Cornforth and MacFarlane. Barnet Gillingham Fulham Brentford
Public sector pensions unaffordable ? on 15:26 - Oct 5 by ReslovenSwan1
Resolven Aberdare Merthyr then Carmarthen and Neath in my formative years before heading to Lloegr and returning.
I watched Swansea play while in Birmingham and Newcastle are at Hartlepool and Halifax. The time of John Williams the flying post nam and Mama Sidibe. Then later in London with Legg Cornforth and MacFarlane. Barnet Gillingham Fulham Brentford
Yes Aberdare thought so.
Continually being banned by Planet Swans for Porthcawl and then being reinstated.
Public sector pensions unaffordable ? on 18:05 - Oct 5 by JJBomber
That's exactly the problem the voters don't see. Higher tax rates mean less tax receipts.
For me the only sensible way to increase tax is up the tax on luxury goods to 30%. Have two bands basic stays as it is and anything classified as luxury 30%. Cars over say £40,000 extra 10% tax, TVs over £500 30% tax right across the board, watches, mobiles everything 2 bands basic and luxury.
-1
Public sector pensions unaffordable ? on 18:27 - Oct 5 with 891 views
Public sector pensions unaffordable ? on 18:14 - Oct 5 by Whiterockin
For me the only sensible way to increase tax is up the tax on luxury goods to 30%. Have two bands basic stays as it is and anything classified as luxury 30%. Cars over say £40,000 extra 10% tax, TVs over £500 30% tax right across the board, watches, mobiles everything 2 bands basic and luxury.
I posted that same thing on here ages ago, don't tax their income tax their "things" including their property.
They can move their cash offshore, they cannot move their properties.
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Public sector pensions unaffordable ? on 18:39 - Oct 5 with 884 views
Public sector pensions unaffordable ? on 18:05 - Oct 5 by JJBomber
That's exactly the problem the voters don't see. Higher tax rates mean less tax receipts.
Tax is a way or at least can be a way to redistribute wealth and a way to control inflation by taking money out of the economy, it doesn't matter if we have higher or lower tax receipts as we have a central bank, tax does not pay for Government spending as we can just print money for that if we want too but that is not understood by most people including people in Government that should know.
Continually being banned by Planet Swans for Porthcawl and then being reinstated.
Public sector pensions unaffordable ? on 18:39 - Oct 5 by trampie
Tax is a way or at least can be a way to redistribute wealth and a way to control inflation by taking money out of the economy, it doesn't matter if we have higher or lower tax receipts as we have a central bank, tax does not pay for Government spending as we can just print money for that if we want too but that is not understood by most people including people in Government that should know.
By just printing money without the whole mechanism of supply and demand then unlike what you’ve posted then the outcome would be hyper inflation , if you want an example just look up how Germany’s economy collapsed in the 1920’s
"In a free society, the State is the servant of the people—not the master."
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Public sector pensions unaffordable ? on 18:56 - Oct 5 with 867 views
Public sector pensions unaffordable ? on 18:51 - Oct 5 by Boundy
By just printing money without the whole mechanism of supply and demand then unlike what you’ve posted then the outcome would be hyper inflation , if you want an example just look up how Germany’s economy collapsed in the 1920’s
Continually being banned by Planet Swans for Porthcawl and then being reinstated.
Public sector pensions unaffordable ? on 18:56 - Oct 5 by trampie
Key Causes of Hyperinflation: Money Supply and Demand-Pull Inflation Various factors can trigger hyperinflation.
Excessive Money Supply Central banks generally control the circulating supply of money. Central banks can increase the amount of money circulating in circumstances that historically warrant an increase in the money supply such as a recession or depression. The intent behind this action is to encourage banks to lend and consumers and businesses to borrow and spend.
Hyperinflation can happen if the money supply increases without GDP growth, forcing businesses to raise prices to stay profitable.
Consumers pay higher prices and feed inflation when they have more money. If economic output shrinks and inflation rises, companies charge more, consumers pay more, and the central bank prints more money. A cycle of increasing inflation rates occurs, leading to hyperinflation.
Public sector pensions unaffordable ? on 18:39 - Oct 5 by trampie
Tax is a way or at least can be a way to redistribute wealth and a way to control inflation by taking money out of the economy, it doesn't matter if we have higher or lower tax receipts as we have a central bank, tax does not pay for Government spending as we can just print money for that if we want too but that is not understood by most people including people in Government that should know.
Do you understand that just printing more money devalues the currency and pushes inflation up?
Have you heard of the Weimar Republic, before it collapsed you needed a wheelbarrow full of money to buy a loaf of bread
I guess simply put, governments borrow money to spend and pay the loans off with tax money.. A good chunk of the Uk national debt is owed to the Bank of England.
[Post edited 5 Oct 20:31]
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Public sector pensions unaffordable ? on 20:57 - Oct 5 with 792 views
Public sector pensions unaffordable ? on 20:23 - Oct 5 by SullutaCreturned
Do you understand that just printing more money devalues the currency and pushes inflation up?
Have you heard of the Weimar Republic, before it collapsed you needed a wheelbarrow full of money to buy a loaf of bread
I guess simply put, governments borrow money to spend and pay the loans off with tax money.. A good chunk of the Uk national debt is owed to the Bank of England.
[Post edited 5 Oct 20:31]
He's a dick
Thinks he's "cleverer than thou" but sadly and ultimately a typical misinformed lefty dick.
Resloven, trampie, Scotia
All will have you believe they are the Delphic Oracle of what passes as truth but....
No..
Just thick as f**king mince...
“Cunnilingus and Psychiatry brought us to this …”
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Public sector pensions unaffordable ? on 09:07 - Oct 6 with 644 views
Public sector pensions unaffordable ? on 20:23 - Oct 5 by SullutaCreturned
Do you understand that just printing more money devalues the currency and pushes inflation up?
Have you heard of the Weimar Republic, before it collapsed you needed a wheelbarrow full of money to buy a loaf of bread
I guess simply put, governments borrow money to spend and pay the loans off with tax money.. A good chunk of the Uk national debt is owed to the Bank of England.
[Post edited 5 Oct 20:31]
People may misunderstand the last point, It may be better to say that the UK borrows money to cover that part of current expenditure not covered by tax receipts, with part of those tax receipts being used to pay interest on the national debt. The fact that around a third of UK government debt has at times been held by the Bank of England takes a bit of getting one's head around. It is not so much that the Bank possesses funds that it lends to the Treasury, but that, through Quantitative Easing (the Asset Purchase Facility), it creates central-bank reserves in order to purchase government gilts from pension funds, insurers and other investors. The gilts become assets of the Bank and generate interest income. The newly created reserves become liabilities of the Bank and are held by commercial banks, on which the Bank normally pays interest at Bank Rate. When Bank Rate is lower than the yield on the gilts, the Bank can make a profit; when Bank Rate exceeds the average gilt yield, as has often been the case in recent years, it can make a loss. In economic terms, QE has shifted part of the Government's financing from long-term fixed-rate debt held by private investors to reserve balances that effectively bear a floating interest rate linked to Bank Rate. Viewed as a single public-sector balance sheet, the Government is to some extent owing money to itself, but the reserves created under QE remain liabilities to the banking system.
[Post edited 6 Oct 9:12]
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Public sector pensions unaffordable ? on 15:28 - Oct 6 with 508 views
Public sector pensions unaffordable ? on 09:07 - Oct 6 by AnotherJohn
People may misunderstand the last point, It may be better to say that the UK borrows money to cover that part of current expenditure not covered by tax receipts, with part of those tax receipts being used to pay interest on the national debt. The fact that around a third of UK government debt has at times been held by the Bank of England takes a bit of getting one's head around. It is not so much that the Bank possesses funds that it lends to the Treasury, but that, through Quantitative Easing (the Asset Purchase Facility), it creates central-bank reserves in order to purchase government gilts from pension funds, insurers and other investors. The gilts become assets of the Bank and generate interest income. The newly created reserves become liabilities of the Bank and are held by commercial banks, on which the Bank normally pays interest at Bank Rate. When Bank Rate is lower than the yield on the gilts, the Bank can make a profit; when Bank Rate exceeds the average gilt yield, as has often been the case in recent years, it can make a loss. In economic terms, QE has shifted part of the Government's financing from long-term fixed-rate debt held by private investors to reserve balances that effectively bear a floating interest rate linked to Bank Rate. Viewed as a single public-sector balance sheet, the Government is to some extent owing money to itself, but the reserves created under QE remain liabilities to the banking system.
[Post edited 6 Oct 9:12]
Keeping it simple works best for me, becaus I'm simple!
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Public sector pensions unaffordable ? on 16:55 - Oct 6 with 478 views
Public sector pensions unaffordable ? on 20:23 - Oct 5 by SullutaCreturned
Do you understand that just printing more money devalues the currency and pushes inflation up?
Have you heard of the Weimar Republic, before it collapsed you needed a wheelbarrow full of money to buy a loaf of bread
I guess simply put, governments borrow money to spend and pay the loans off with tax money.. A good chunk of the Uk national debt is owed to the Bank of England.
[Post edited 5 Oct 20:31]
Weimar Republic refused to raise taxes.
Continually being banned by Planet Swans for Porthcawl and then being reinstated.
Public sector pensions unaffordable ? on 15:28 - Oct 6 by SullutaCreturned
Keeping it simple works best for me, becaus I'm simple!
It wasn't that you were wrong, but I thought some readers might assume that because the Bank of England held a big chunk of the national debt then it wasn't really debt. I wanted to make the point that it is still debt with a cost. The goverment still pays interest, but at Bank Rate rather than the yield attached to the gilt.
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