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Osborne's Budget - looks like pensioners will lose out the most

(246 Posts)
bakergran Wed 21-Mar-12 14:07:59

I have been watching the BBC coverage of the Budget. It looks like all the benefits that are being made are going to be funded by freezing pensioners' tax allowances - under the guise of 'simplification'.

Treasury figures show that this will raise £1billion for the Treasury, according to Nick Robinson.

I'm never sure how much these things will affect my day to day life, but it does seem certain that - after dismantling the NHS that so many of us will rely upon in the years to come - this government is now penalising pensioners to help them out of the mess the bankers got us into.

effblinder Wed 21-Mar-12 14:32:33

If you've reached the state pension age already this budget will cost you £63 a year.

If you haven't reached it yet it will cost you £197 a year. What a lovely birthday present, Osborne.

Foreveryoung Wed 21-Mar-12 14:58:11

What happened with we're all in this together? Not if you're a pensioner then not only do we have to work longer, we're being squeezed the hardest, interest rates are at an all time low, our savings mean nothing. Why should pensioners have to pay the price for whats happening with our economy?

grouchygran Wed 21-Mar-12 14:58:44

does anyone know what the tax allowances we'll lose will be?

Why on earth is the top tax rate going DOWN but pensioners losing out? I've heard them saying on the radio this is meant to be the budget for millions not millionaires - sounds doubtful to say the least.

FeeTee Wed 21-Mar-12 15:23:08

I am fuming. Freezing tax allowances is yet another stealth tax from the government. Inflation means we will be worse and worse off. Take from the poor to give to the rich - George Osbourne = Robbing Hood

rosiemus Wed 21-Mar-12 15:25:39

Well said feetee. Yet again the Tories show their disregard for older people and cosy up to the rich. I'm appalled

kittyp Wed 21-Mar-12 15:30:05

What about the flat rate pension of £140 a week "based on contributions" - ie not flat rate at all? What about all the women who grew up in the generation where the men went out to work and the women stayed at home to raise the children (rather a vital job I am sure you will agree?)

So they won't have paid as many contributions and so they will lose out again. It's discrimination. But why am I surprised?

effblinder Wed 21-Mar-12 15:32:51

You're right, kittyp, that is a good point.

crumblygranny Wed 21-Mar-12 15:38:06

Does George not remember the trouble old Gordon got into with his 'peanuts' 75p rise? I'm also worried about the £10billion welfare cuts he just sort of mentioned in passing - does this mean an end to free bus pass and winter fuel payment?


CariGransnet (GNHQ) Wed 21-Mar-12 16:14:27

You can read Geraldine's statement on #grannytax here

northerngran Wed 21-Mar-12 16:27:22

I note there was nothing to help pay for care which surely has to be a priority? Tax relief/an ISA on savings specifically to pay for care would surely have been a start?

bakergran Wed 21-Mar-12 16:39:31

Northern - exactly.

That's where the help is genuinely needed. Instead, there's no help with care AND we'll be worse, a problem which is only going to be more and more of an issue as our generation gets older.

This needs to be dealt with urgently. It's clear, however, that the Tories are not interested in these priorities.

I have to say, though, I was pleased to see that there is hopefully going to be an anti-tax-avoidance law brought in. I for one am happy to see this is at last being taken seriously.

granscotland Wed 21-Mar-12 16:54:06

Absolutely furious with the budget, I don't reach 65 for a few months and it would appear that I am going to be worse off over the next few years!

Carol Wed 21-Mar-12 16:54:29

The sooner we get rid of this disastrous con-dem coalition the better. I hope every pensioner remembers this when we next get the chance to vote.

JosieGransnet (GNHQ) Wed 21-Mar-12 16:59:32

Hi folks,

We have asked for some expert opinion on this issue from Danny Cox, pensions guru from Hargreaves Lansdown.

Have a look at what he's outlined as the major changes to pensions in the Budget 2012.

Annobel Wed 21-Mar-12 17:09:15

You can bet your sweet life that Nick Clegg will be trumpeting the rise in the tax threshold from the rooftops as a Lib Dem initiative which, to be fair, it was. However, what he won't be shouting about the freezing of our tax threshold until the proposed rises catch up with it. In fact, as a shamefaced member of said party, I have already had the email. blush

susiecb Wed 21-Mar-12 17:32:23

That's what you get with a Tory government- don't let the Lib Dem thing fool you its pure Thatcherite economics.

Mamie Wed 21-Mar-12 17:40:12

Great response Geraldine. This government is truly inept though - the Granny tax is the instant headline in the Telegraph and the Mail. Er - those are your voters, chaps.
Also amazed by the patronising bit about people not having to bother their poor little grey heads with a self-assessment form.
Funny how everybody in France fills out a self-assessment form (and none of them were fed on demand so they obviously can't be as intelligent...)

gracesmum Wed 21-Mar-12 17:41:07

As soon as I saw the title of the thread, I thought, Why does this not surprise me? We are the "soft targets" yet again. I refuse to allow my blood pressure to rise further, but I do despair at times sadangry

Anagram Wed 21-Mar-12 17:48:42

Excuse me for asking, but is everyone here a Labour supporter? The amount of vitriol being directed at the government is quite alarming....certain groups lose out at every budget, whatever party....

Nonu Wed 21-Mar-12 18:08:02

Perhaps I"m a bit hazy here but don"t we grumble about the budget, whoever is in power you win some you lose some , we as seniors I think , although I guess someone will correct me are doing quite okay thanks very much nice foreign hols , although bity miffed about the airport tax going up, but the way I view it is if we want to away just have to swallow it., and smile x

nightowl Wed 21-Mar-12 18:14:32

I used to be a Labour supporter but not since they abandoned any pretence of having socialist principles (or any principles at all). I agree that certain groups lose out at every budget but under this government it's certain that the poor will lose out most. I agree with susiecb pure Thatcherites and my views on that woman are unprintable. And now I will run for cover - never discuss politics!!!!!

Greatnan Wed 21-Mar-12 18:21:37

I am another former socialist who was totally disillusioned by Blair. Even if I still lived in Britain I would be disenfranchised - a plague on all their houses.

JessM Wed 21-Mar-12 19:11:27

Nicely done Geraldine. This is a bizarre political move. What is the fastest growing group of voters - us. And we tend to vote.
I wonder though if we change our allegiance when we go to the polling booth?
I have always voted labour and even though Blair more Tory than the tories used to be, I could not bring myself to vote Con. And libdems always seemed like a wasted X.
I have a theory that the Thatcher years knocked the stuffing out of our generation and left us feeling powerless. I have noticed on GN that although people may rant about something, few will write to their MPs. about it.
Any thoughts?
Don't run and hide nightowl we will promise to disagree with each other in a grownup way.

ameliaanne Wed 21-Mar-12 19:15:19

I think perhaps this should be put into perspective. Those pensioners who actually pay tax are going to be around £1.60 a week worse off because of a frozen tax allowance which is greater than the personal one anyway, but their State Pension is actually going up by more than that. Am I missing something here? Perhaps I am. Twitter etc. seem to be full of hysteria over not a lot.