Re: Review of every PIPS claim gets the go ahead.
What a throughly evil, uncaring Tory government we have.
Originally Posted by
Uncle Joe
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Haven't I been telling you all that for the past eight years???
And you think your lot were any better?
Give me a break!
Brown/Blair and his lots screwed up everybody's pensions by withdrawing Billions of pounds in tax relief every year etc etc etc.
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http://www.telegraph.co.uk/finance/p...Seventies.html
A document published quietly last week shows that Labour’s raid on pensions in 1997 is now costs taxpayers nearly £10bn a year – double the amount Gordon Brown had initially outlined.
The Treasury is able to collect this money because Mr Brown abolished the tax relief pension funds earned on dividends from stock market investment.
The policy, one of Mr Brown’s first as Chancellor, has played a starring role in the collapse of final salary pensions in Britain. In the late Nineties, many of these funds were in surplus – in other words they had more than enough money to meet current and future payments to retired workers.
But that situation lastly only briefly, with rapid increases in life expectancy and a less benign investment leaving many companies facing bulging deficits today. Without the tax credits on dividends, pension funds went into terminal decline, and now just one in 12 staff are in a final salary scheme, according to figures published by the Daily Mail, down from 34pc in 1997.
In reality, Mr Brown’s raid, which has raised nearly £118bn to date, was far from the only government policy to cripple British pensions over the last few decades.
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I could be here all ruddy day giving instances of uncaring Labour Party actions, but I have a day to get on with.
But hey UJ.
That told you now.
Didn't it?!