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Tories doing what they do best - switching sides when it suits them

A significant proportion of the voter base that benefits from Triple lock will be dead by the next 2 GEs, whilst a larger cohort will become 18+. 

The Tories want to tap into the 'oh Jeremey Corbyn' singing crowd - hence BoJo's young band of 'new' tories (better to hide the rabid right away for now that UKIP are dead)

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35 minutes ago, msi said:

Tories doing what they do best - switching sides when it suits them

A significant proportion of the voter base that benefits from Triple lock will be dead by the next 2 GEs, whilst a larger cohort will become 18+. 

The Tories want to tap into the 'oh Jeremey Corbyn' singing crowd - hence BoJo's young band of 'new' tories (better to hide the rabid right away for now that UKIP are dead)

So how exactly does limiting next year's state pension increase to 2.5% cause young Corbynistas to start voting Tory?

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Given the collapse in wages due to furlough the potential rise in average pay next year once it ends would be huge - and the resulting rise in state pension perversely high.

So it is certainly logical to suspend the pay link for the next year or two.

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1 hour ago, MARTINX9 said:

Given the collapse in wages due to furlough the potential rise in average pay next year once it ends would be huge - and the resulting rise in state pension perversely high.

So it is certainly logical to suspend the pay link for the next year or two.

And quite likely never to be reinstated.

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5 hours ago, Simhadri said:

Doesn't really say how though.  Tempory or permenant, triple to double lock, or single lock, or no lock?  Looks like the averages earnings bit will go for now, whaich as they explain is fair, as average earnings for pensioners never fell 2019/20 , or 2020/21. 

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6 hours ago, Dorkins said:

So how exactly does limiting next year's state pension increase to 2.5% cause young Corbynistas to start voting Tory?

No hes 100% correct, check out Tpuk. They are making there mark now, on the younger voters.

They know that their largest pool of voters are dying off quickly, compounded by covid19.

By making money available for youngsters, rather than feeding it all to pensioners.

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2 hours ago, Speed1987 said:

No hes 100% correct, check out Tpuk. They are making there mark now, on the younger voters.

They know that their largest pool of voters are dying off quickly, compounded by covid19.

By making money available for youngsters, rather than feeding it all to pensioners.

What money is being made available for youngsters?

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8 hours ago, Bluestone59 said:

And quite likely never to be reinstated.

The triple lock pension ratchet is up there with Help to Buy as a boomer vote buyer. I despise both of them equally.

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8 minutes ago, Si1 said:

The triple lock pension ratchet is up there with Help to Buy as a boomer vote buyer. I despise both of them equally.

Many would be shocked to find that the HTB scheme is often seen by boomers as a grant, not another loan.  One that if it goes sour, we're all on the hook for.  

Optics.  It's all about the optics...

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12 minutes ago, blackhole said:

Many would be shocked to find that the HTB scheme is often seen by boomers as a grant, not another loan.  

Any examples of the logic of this?

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9 minutes ago, Si1 said:

Any examples of the logic of this?

My own father in law!  Relatives etc.  Those who have done well out of the government.  To be fair to him, he lately conceded that sitting on my hands is the right thing to do.

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33 minutes ago, Si1 said:

The triple lock pension ratchet is up there with Help to Buy as a boomer vote buyer. I despise both of them equally.

HTB is a crass policy and should never have been introduced. There is no justification whatsoever for it being maintained.

As for the TL as Chris Dillow says the removal will in fact make things worse for the young . The state pension system is a system through which demographic cohorts move and, although older people may be the original beneficiaries, all cohorts will benefit ultimately.Many on here, including you, consider this to be an exclusive benefit of the oldies whereas, as Dlllow points out, it is a benefit for everyone.

Edited by crouch
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Obviously the state pension could start looking quite meager if we have a prolonged period of > 5% inflation (assuming triple lock removed).

 

It's hard to see how many people will become winners from the Covid crisis.

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23 minutes ago, Si1 said:

The triple lock pension ratchet is up there with Help to Buy as a boomer vote buyer. I despise both of them equally.

Have to own up, I detest HTB but I have a self interest wrt pension lock..

When Brown cut some pension tax concession in his first budget I stopped putting money into my pension scheme. I regarded him as a serious danger to shipping.

A couple of years down the line I ventured out and then got hit by the Equitable "crisis". I didn't choose them, they were the company default, not that I could have guessed what was coming anyway.

I transferred out but never made serious contributions thereafter so I'm well light on where I should have got to pension wise.

The decision was mine and I'm stuck with the consequences, even so it's hardly surprising I took the course I did.I

I respect the opinions on here towards the lock.  Have to admit it's time to tone down the increases.

At least it never once led me even to consider voting Tory.

As for HTB, there was a geezer on the box this a m saying that HMG should increase the scope/scale of HTB in order to spark off home price increases. I think he was an economist from some university from which he should get a summary dismissal.

 

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18 minutes ago, crouch said:

HTB is a crass policy and should never have been introduced. There is no justification whatsoever for it being maintained.

As for the TL as Chris Dillow says the removal will in fact make things worse for the young . The state pension system is a system through which demographic cohorts move and, although older people may be the original beneficiaries, all cohorts will benefit ultimately.Many on here, including you, consider this to be an exclusive benefit of the oldies whereas, as Dlllow points out, it is a benefit for everyone.

Right.. As pensions never change over time... 

I work for a company that regularly has to make contributions to make up the final salary pension deficit. A scheme that closed to new entrants in 2005. Would that money go on staff investment? Perhaps.. Dividends maybe. The defined contribution scheme would benefit from those. 

Todays workers are looking at retiring at 72, assuming the age doesn't go up again. 

Public services will be devestated unless pensions are reformed. Ultimately taxpayers will end up paying more for less over the next 30 years to fund them, while getting crap pensions themselves. 

Pensions are a ponzi scheme always have been. If people in their 60s now admitted they didnt pay for their pension but the much smaller cohort of their parents a reasonable debate could be had. Im not holding my breath. 

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14 minutes ago, reddog said:

Obviously the state pension could start looking quite meager if we have a prolonged period of > 5% inflation (assuming triple lock removed).

 

It's hard to see how many people will become winners from the Covid crisis.

Just because the triple lock is removed doesn't mean pensions shouldn't rise with inflation. 

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1 hour ago, Si1 said:

Just because the triple lock is removed doesn't mean pensions shouldn't rise with inflation. 

Exactly. Or track average wages would be reasonable. 

Chuck in both of those and 2.5%,and always what is higher was always nonsensical. Aside from anything else it tends to 100% of wages and then infinity 

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  • 416 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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