RPI to CPI Early Day Motion 1032

Ripoff_2

chris_m wrote: »

Since interest rates haven't changed, surely that is correct?
There will have been no inflationary effect on mortgage payments so the RPI basket will show a zero increase for those, the same as if they weren't included?

What this tells me is that the argument that Steve Webb & co puts forward in that CPI is a better measure of pensioner inflation because it doesn't contain mortgage interest payments is fundamentally flawed, because RPIx also does not contain mortgage interest payments. So RPIx under that criteria is more acceptable measure of pensioner inflation than CPI because at least RPIx also includes housing costs.

But RPIx has been the same as RPI for the last two months. So Steve Webb & Co could have just used RPIx as the indexing for pensions if he thought that RPI was over inflating pensioner inflation. So in a way this proves that the CPI change has nothing to do with mortgage payments or a better measure of pensioner inflation, it's purely a cost cutting exercise and by switching to an inferior measure, Steve Webb & Co are knowingly defrauding people of the correct inflation rate for increases.

To me it is wrong to change the main measure of inflation because it gives lesser increases because inflation is inflation and the measure should as accurately as possible reflect that.

It doesn't matter what you call it but it should always be what the inflation actually is, not what you want it to be. CPI, RPI, RPIx only one can be right for measuring inflation for uprating of pensions and we already know that CPI has missing measures, so we already know that CPI is not the correct measure, so therefore why didn't Steve Webb & co just use RPIx...........This is the biggest CON TRICK ever, I just wish that more people would wake up to that fact.

Ripoff_2

Don't just take my word for this CON TRICK
See http://www.guardian.co.uk/business/2011/feb/15/official-statistics-hide-severity-uk-inflation and see what the true professionals think about the UK inflation measure.

Just one extract from the full article:

"Nowadays, this is accomplished simply by changing the 'formula' rather than more obviously fixing the numbers themselves, defining what the 'preferred' official measure is and by trying to conceal the full extent of domestic price escalation."
The article said the public could have "little faith" in an inflation measure that omitted housing costs, which were of "primary concern" to households.

Old_Slaphead

Ripoff wrote: »

Please don't miss quote me I actually said "This is the biggest CON TRICK ever, I just wish that more people would wake up to that fact."

You ought to get out more.

For con tricks this is pretty small beer.Try asking women in their 50s, students, anyone with savings or a private pension, Eq Life members, anyone looking to take out an annuity soon, zillions of employees who had zip pay increases for years etc etc.

bendix

Old_Slaphead wrote: »

You ought to get out more.

For con tricks this is pretty small beer.Try asking women in their 50s, students, anyone with savings or a private pension, Eq Life members, anyone looking to take out an annuity soon, zillions of employees who had zip pay increases for years etc etc.

It beggars belief, doesnt it.

Biggest con trick for years, my a**e.

Awful, awful, disgraceful self-absorbed selfishness. Me me me me me. I deserve it. It's my money, blah blah blah. Everyone has got to look after me and pay for my pension.

Interested_Taxpayer

Old_Slaphead wrote: »

For con tricks this is pretty small beer.Try asking women in their 50s, students, anyone with savings or a private pension, Eq Life members, anyone looking to take out an annuity soon, zillions of employees who had zip pay increases for years etc etc.

And of course those with very large chips on their shoulder.:eek:

teacher_retired

bendix wrote: »

It beggars belief, doesnt it.

Biggest con trick for years, my a**e.

Awful, awful, disgraceful self-absorbed selfishness. Me me me me me. I deserve it. It's my money, blah blah blah. Everyone has got to look after me and pay for my pension.

I would like to thank Bendix etc for their contributions At first I thought they were a distraction but in fact I have found out from many people that they have made them aware of the threat to their pensions and thus helped to further raise peoples awareness of ths issue. This can only help so thank you for furthering our cause.

ordinaryman

bendix wrote: »

It beggars belief, doesnt it.

Biggest con trick for years, my a**e.

Awful, awful, disgraceful self-absorbed selfishness. Me me me me me. I deserve it. It's my money, blah blah blah. Everyone has got to look after me and pay for my pension.

I take it that your not on our side then?

Aberdeenangarse

ordinaryman wrote: »

I take it that your not on our side then?

Who is? You and Billy No Mates :rotfl:

pjala

chris_m wrote: »

Since interest rates haven't changed, surely that is correct?
There will have been no inflationary effect on mortgage payments so the RPI basket will show a zero increase for those, the same as if they weren't included?

Mortgage interest rates are currently increasing, long term fixed rates and also variable rates, despite the fact that the base rate stays at .5%. Also, in case you have not noticed, rates are at around 5%, that is 5% per annum - significantly more than base rates, and this hurts first time buyers the most.

If a true inflation rate which reflected this was available, it would more carefully reflect real inflation. If you hold with the idea that the government can just pretend that inflation is lower - then you are falling for the usual c**p that politicians spout.

pjala

bendix wrote: »

Quite right. It's ridiculously selfish that people are complaining their pensions are being INCREASED by CPI instead of RPI when so many others are losing their jobs or taking pay cuts or pay freezes to help the government reduce the deficit.

I'm glad you see things the same way I do.

Thatcher restructured the economy by conning us into believing that the financial sector could provide a secure future for us all - now look what has happened. So much for Thatcherism.
Thatcher was an economist when she wanted to be, and a devious manipulator of facts when she wanted to be. She closed all our mines, and now look at the price of coal! Short term rubbish.

Selfish is what selfish was, and our good friend Cameron is proving himself to be an old style Thatcherite Tory - the Big Society is turning into a Big Con Society.

I really don't think we will ever see things the same way - go and hijack someone elses thread. Ask yourself why a pensioner on 10,000 a year, has their pension gradually eroded, so they then become a burden on Society in 20 years time when their pension wont be able to keep them alive any more. It makes no economic sense at all.