Via Share The Facts, new tax and benefit changes have come into effect: They’re the latest part of our plan to give more security to hardworking taxpayers. They include: Raising the level at which people start paying income tax to £10,600 – cutting tax for over 26 million people and lifting over three million out of tax altogether since 2010 Giving people freedom over their pensions – so you’re not forced to buy an annuity when you retire, but free […]
Tag Archives: Pensions
Tonight is the John Hampden Grammar School Question Time which kicks off the election campaign in Wycombe. More here. In preparation for the event, I’m publishing a series of videos which set out how Conservatives are securing a better future for our country.
Via Hansard, the Prime Minister sets out the facts on public pensions at PMQs (emphasis mine): Let me just remind the right hon. Gentleman and the House of the facts about public sector pensions. Anyone earning less than £15,000 on a full-time equivalent salary will not see any increase in the contributions they have to make. In terms of the reforms we are making, a nurse retiring on a salary of just over £34,000 today would get a pension of […]
The strike taking place today is not just a walkout, but a walking away from the negotiating table, where a good deal was rejected irresponsibly. The Minister for the Cabinet Office, Francis Maude, has said: “Tomorrow’s strike is inappropriate, untimely and irresponsible, especially while talks are ongoing. “We have listened to the concerns of public sector workers and that is why at the beginning of this month we put an improved offer on the table. The offer ensures that public […]
Via House of Commons Hansard Debates for 18 Oct 2011 (pt 0004): The right hon. Member for East Ham (Stephen Timms) set out his misgivings about the Bill. I share some of his trepidation about the effects on the group of women that we have discussed, but I shall be supporting the Government because I disagree with the hon. Members for Edinburgh East (Sheila Gilmore) and for Hampstead and Kilburn (Glenda Jackson), who sought to set out our financial position […]
Recently, my researcher Tim attended the APPG on Equitable Life. The biggest issue discussed was that of pre-1992 policy holders who have been excluded from the compensation mechanism. The group heard from Honor Blackman, who is set to receive a full 100% compensation, while two other victims of the Equitable Life collapse were told they would receive no remuneration for their losses. Mrs. Blackman said that they were all prudent and put money aside for a rainy day, but that was where […]
I spoke this week in the debate on the Equitable Life (Payments) Bill: I wonder whether Chris Williamson has been listening to the same debate as I have. I hope that his constituents do not read his speech in isolation, because in the debate to which I have been listening Government Back Benchers have made it absolutely crystal clear that they will stand up for the members of Equitable Life. I support this short, technical Bill, but I should like to […]
Professor Kevin Dowd blogs my speech in the budget debate for the IEA: By far the best contribution to the parliamentary debate on the Emergency Budget was by the MP for Wycombe, Steve Baker. Using impeccable analysis and respected (ONS and Bank for International Settlements) data sources, Mr. Baker painted a frightening scenario in which the fiscal policies of western governments are unsustainable, and were even before the recent crisis erupted. If you dare, read more here.
Steve Baker (Wycombe) (Con): When I came to the House today, I expected to hear a great deal of Keynesian argument and I have not been disappointed. I am sorry that the hon. Member for Great Grimsby (Austin Mitchell) is no longer in the Chamber, as I wanted to congratulate him on his comprehensive grasp of Keynesian arguments. Unfortunately, it was also excruciating. I am told that Keynes thought that the safe upper limit for the size of the state […]
The projected value of the state pension collapses in the face of the rising cost of public sector pensions: Billions of pounds have been added to the cost of unfunded public sector pensions as the various schemes from the NHS to civil servants, the armed forces and teachers have updated their assumptions about how long people will live, Watson Wyatt, the pensions consultants, said. The NHS has become the latest to do so, with the government now expecting the typical […]