Sunday 14 December 2014

Good comment at The Times

Emailed in by MBK, under an article headed Windfall for pensioners with leap in savings rates.


So pensioners have a lovely triple lock (Whereas disabled people and single mothers get a cut). The NHS is ring fenced (Mostly utilised by pensioners). Older people can withdraw their pensions as a nice lump sum to get a buy to let, and now they have an exclusive market beating savings rate (That young people cannot access).

How about a piece of the pie for young people? Oh I see!! There is no point giving under 35 year olds access to a special rate savings product as they are all heavily indebted with student debt (Older people got theirs for free), Help to buy and huge mortgages to own their own houses (Older people paid an average of 3.5 x salary and had no need for government intervention*) and they have suppressed wages and low job prospects with zero contract hours so they don't have any savings!

Silly me! The conservatives are right anyway, after all, the pensioners are the countries future…

* Actually, there was a lot of government intervention until the 1980s or so; UK governments went to a lot of trouble to keep rents and house prices low and affordable.

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