And today, Sunak announces a new policy, a pension triple lock plus. This is effectively guaranteeing that a triple lock pension will become and remain tax free. It is however closing the stable door after the horse has been chased away.
Sunak as chancellor froze the tax free allowance in 2021 which is what is leading to the risk that state pension income will be taxed. and they also skipped the wages linked increase in 2021 and they were talking about missing the inflation linking in the year of the energy price increases. Hunt also suggested the abolition of NI payments, which would mean that link between contribution and entitlement would be lost. Another indicator of the value of Government promises on pensions is the now deemed illegal reduction in entitlements for their employees i.e. for Civil Servants whose pensions they have been raiding for years.
More performative rubbish
Originally published at https://davelevy.info on May 28, 2024.
