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  • FIRST POST
    • michaels
    • By michaels 2nd Jun 17, 11:10 PM
    • 19,107Posts
    • 87,657Thanks
    michaels
    Protecting pensions from politicians - or preparing for a Labour coalition
    • #1
    • 2nd Jun 17, 11:10 PM
    Protecting pensions from politicians - or preparing for a Labour coalition 2nd Jun 17 at 11:10 PM
    It is not hard to remember Gordon Brown's first tax raid - his pension tax was one of the big reason that final salary pensions were stopped and many existing schemes are underfunded.

    I can't see the much further left Momentum crew not planning something much more draconian - especially as higher taxes for top earners would otherwise see even more incentives for income diversion into pensions. And of course his backers in the public sector unions are protected with the only remaining final salary schemes so a win win for the union barons.

    So highly likely is a removal of higher rate tax relief
    Also likely is a reduction in the lifetime allowance and no indexation

    What else?
    The high annual isa allowance could be cut (ordinary people can't save 20k pa) and the lifetime isa helping those who can save doesn't really fit with Labour values.

    And what about the tax free lump sum, doesn't seem very progressive so could it he stopped altogether or perhaps capped at say 50k

    And if things go badly weong how about the Hungarian example where private pension pots were 'nationalised' i.e. confiscated.

    So what is the answer - stuff isas now? Bitcoin and physical gold?!
    Cool heads and compromise
Page 9
    • phillw
    • By phillw 13th Jun 17, 9:12 PM
    • 674 Posts
    • 340 Thanks
    phillw
    Maybe i shouldnt take my summer holiday? I might spend the whole time trying to explain the unexplainable to french people? My french is OK, but not sure it is good enough for that.
    Originally posted by atush
    The french people I spoke to understand brexit better than the 52% of people who voted to leave. They just laugh at the stupidity, which does nothing to pursuade the 52% that it was an epic fail. However if you can't laugh then you do stupid things like pretend you're better than other people.

    Labour aren't going to be raiding pensions any time soon. There are too many right wing elite pulling the strings.
    Last edited by phillw; 13-06-2017 at 9:15 PM.
    • atush
    • By atush 14th Jun 17, 10:32 AM
    • 16,163 Posts
    • 9,854 Thanks
    atush
    Well yes, we discussed brexit last summer. They appreciate my remain sentiments and ignore the OH being a brexiteer.

    What I wont be able to explain is Trump.
    • Malthusian
    • By Malthusian 14th Jun 17, 10:44 AM
    • 2,619 Posts
    • 3,736 Thanks
    Malthusian
    Now they will ask me to explain this debacle.
    Originally posted by atush
    Do the French really care that much about our elections?

    Oh yeah, and the trump thing. That is a whole other sh*t bomb.
    I would have thought the French already knew what to think about Trump. Les americans sont stupides, *shrug of shoulders* beuf. Not saying it's a good explanation but it's the one the French will appreciate. Anyway, a third of their country voted for a Nazi in the presidential elections, they aren't in any position to lecture other countries on who or what they vote for.
    • atush
    • By atush 14th Jun 17, 12:26 PM
    • 16,163 Posts
    • 9,854 Thanks
    atush
    Yes, they care about the election- re brexit. They are probably happy about our problems.

    Our current weakness will bring out the wolves probably- where is le loup?
    • le loup
    • By le loup 14th Jun 17, 1:50 PM
    • 3,555 Posts
    • 3,367 Thanks
    le loup
    Staying in the shadows - too ashamed of the current stupidity to make a measured contribution.
    • chiefie
    • By chiefie 14th Jun 17, 2:58 PM
    • 289 Posts
    • 298 Thanks
    chiefie
    The French love Europe as it gives them power on the coat tails of merkel. It's the bully club.
    • michaels
    • By michaels 14th Jun 17, 3:25 PM
    • 19,107 Posts
    • 87,657 Thanks
    michaels
    Bloody hell at this rate it'll be taxed every time its moved from one form of saving / investment to another!
    Originally posted by Anonymous101
    The French people I spoke to understand brexit better than the 52% of people who voted to leave. They just laugh at the stupidity, which does nothing to persuade the 52% that it was an epic fail. However if you can't laugh then you do stupid things like pretend you're better than other people.

    Labour aren't going to be raiding pensions any time soon. There are too many right wing elite pulling the strings.
    Originally posted by phillw
    1st round of the French general election about 20% voted for the far left who were looking for Frexit and 20% for the far right (likewise) so 40% of French voters choose Frexit parties. So even in a country where the balance between benefits of EY membership and costs is much more towards the benefits tan in the UK there were still 40% or more who want to leave.
    Cool heads and compromise
    • atush
    • By atush 14th Jun 17, 9:47 PM
    • 16,163 Posts
    • 9,854 Thanks
    atush
    The French love Europe as it gives them power on the coat tails of merkel. It's the bully club.
    Originally posted by chiefie
    Marine le pen or whatever, I dont care.

    In my experience (limited to my area) many french people are only experienced with life in a socialist state so are drawn to that. They dont understand many in the UK having rejected socialism (apart from students/the young who can be bribed with free education etc).

    My french friends tend to get upset when they cant retire at 60, dont have jobs for life etc.

    In france you pay for a doctors visit though, and you pay for prescriptions- not sure if those on benefits get them free but i suppose. It is not 100% free at the point of treatment like the uk- the NHS goes beyond really.
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