The Budget

maddyone

^and in particular furlough ^

Pammie I certainly don’t think paying furlough to millions of people was Tory mismanagement. Maybe others do, but not me.

If the Government had not payed furlough the U.K. would be in a bigger mess, thousands of people would have lost income and some their jobs, unable to pay their bills and many many SME’s would in all probability folded.

and in particular furlough

Pammie I certainly don’t think paying furlough to millions of people was Tory mismanagement. Maybe others do, but not me.

Just been doing some sums.

My state pension will increase by 10.1%.

However, I will lose:

a) 20% in income tax
b) 65% from reduction in Housing Benefit.

Therefore, my increase will actually be 1.5%.

What's that about supporting the least well off?

I had a brain haemorrhage twelve years ago. It was a minor one, which was unfortunate as the consultant said if it was any worse I'd have been comatose and not known about it, but I ~did~ know about it. After I was discharged from hospital my GP signed me off work for three months. Then I had to do a capability test. I failed, mainly because I could stand up and walk across the room. My sickness benefit was withdrawn and I had to go back to work, My employer was appalled: basically I was told to "work from home" for three months, which was odd since I was working on a farm!

That should give some insight into what government regards as "economic inactivity", and the gutter press as "scrounging".

And people in a couple, whose household income means they wouldn't be eligible for means-tested benefits, so they don't bother applying.

Some of the "economically inactive" have long Covid. Others lost their job during the pandemic and decided that staying at home suited them.

The "economically inactive" aren't just those receiving sickness benefits. They include students, stay at home parents, people taking early retirement and those supported by a partner.

Interesting that Mel Stride has been tasked with finding out why so many people registered as ‘economically inactive’ - in other words on ESA and UC sickness benefits - since the pandemic. It’s not rocket science is it ? The effects of Covid, and the long waiting list is for NHS treatments jump out for a start. Also the migration of ESA claimants to UC has been suspended at the same time as the announcement that there will be more money allocated to tackling benefit fraud - specifically UC fraud and error, which has risen massively during Covid. So the flagship UC has largely been an easy route to fraudulent claims.

rafichagran I hope your right. These last few months seem to be taking forever 🤣

Katyj

Did anyone hear anything about the state pension age being increased ? I just heard the tail end of it. I’ve only 6 months to go now before I get mine, surely they can’t change it now 🤞

I have 5 months to go, I dont think it will be changed for us, at least I hope not.

maddyone

Whitewavemark2

We are all paying for Tory mismanagement.

No. We’re paying for the Covid expenses and in particular furlough. And we’re paying for the war in Ukraine and everything that entails, including the huge rise in energy.

I completely agree with you maddy

maddyone

Whitewavemark2

We are all paying for Tory mismanagement.

No. We’re paying for the Covid expenses and in particular furlough. And we’re paying for the war in Ukraine and everything that entails, including the huge rise in energy.

The Covid expenses are Tory Mismanagement.

Katyj

Did anyone hear anything about the state pension age being increased ? I just heard the tail end of it. I’ve only 6 months to go now before I get mine, surely they can’t change it now 🤞

They’re reviewing it and plan to publish a report in early 2023. Current plans are to increase it to 67 for those born on or after 5 April 1960 and to 68 for those born on or after 5 April 1977. So 2026 will see the rise to 67.

"We messed up the economy. You are all going to have to tighten your belts".

aonk

Agreed but it already is reduced through the tax system as are private pensions. This needs careful handling or even more deprivation will result among older people many of whom have worked all their lives and deserve some financial security.

The Private Pension which I have just started to draw from is taxed at source, I have no choice in the matter.

If my total income is under the tax threshold it is down to me to claim it back.

growstuff if you have paid NI and tax for the qualifying period you should receive a full pension.

(I am a WASPI and still waiting)

Agreed but it already is reduced through the tax system as are private pensions. This needs careful handling or even more deprivation will result among older people many of whom have worked all their lives and deserve some financial security.

Ah! I understand now.

Pensions are means-tested to an extent because the poorest receive Pension Credit, which is a "gateway benefit" and sometimes means they are better off than some with higher incomes.

I the state pension shouldn't be means-tested. The way to reduce it for higher paid pensioners should be through the tax system.

You couldn't possibly only give pensions on a means tested basis, that would totally invalidate National Insurance contributions.

GrannyGravy13

growstuff

Jaberwok

Surely if you have paid into a state pension fund all your working life, you should, whatever your financial circumstances are the end of the day, be entitled to a full state pension + triple lock or whatever. Its like paying into an insurance policy, and then being told it won't pay out because you are too rich.

Well, it's a nice theory, but ...

No butts growstuff if you have payed all your due taxes and NI during your working life then you should get your State Pension whatever your circumstances.

Yes please!!!

I've paid all my taxes and NI for many more years than the minimum, but don't get a full SP.

Who's disputing it?

Not forgetting that better off pensioners also pay tax on their pension income. As people who have income over £125k will now pay 45% tax that will swallow up the whole rise for some of the best off pensioners. People with private pension schemes will also be paying either 20% or 40% tax on their state pension.

growstuff

Jaberwok

Surely if you have paid into a state pension fund all your working life, you should, whatever your financial circumstances are the end of the day, be entitled to a full state pension + triple lock or whatever. Its like paying into an insurance policy, and then being told it won't pay out because you are too rich.

Well, it's a nice theory, but ...

No butts growstuff if you have payed all your due taxes and NI during your working life then you should get your State Pension whatever your circumstances.

Jaberwok

Surely if you have paid into a state pension fund all your working life, you should, whatever your financial circumstances are the end of the day, be entitled to a full state pension + triple lock or whatever. Its like paying into an insurance policy, and then being told it won't pay out because you are too rich.

Well, it's a nice theory, but ...

Surely if you have paid into a state pension fund all your working life, you should, whatever your financial circumstances are the end of the day, be entitled to a full state pension + triple lock or whatever. Its like paying into an insurance policy, and then being told it won't pay out because you are too rich.

CoolCoco

We are still going to be worse off with the pension rise - 10% of very little is still very little. Fuel duty is going up 23% next April - that will be the death knell for lots of businesses.

Local Authorities are also able to put the Council Tax up by up to 5%, should they wish to.
As they’re all hard pressed for money a rise is to be expected.

growstuff

Pittcity As biglouis pointed out, people on "certain" benefits will get £900. Those receiving Housing Benefit but no other benefits aren't eligible. Housing Benefit isn't being increased either.

I think the "certain" benefits must have been in the small print but biglouis is right. They are:

Universal Credit
Income-based Jobseekers Allowance
Income-related Employment and Support Allowance
Income Support
Pension Credit
Working Tax Credit
Child Tax Credit