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Brown's raid on pensions costs Britain £100 billion
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We watched the film The boy in the striped pajamas on tv the other night, I could just imagine Paul above in the camp Commandant's uniform and the pain of that horrific Karma
Cheers Steve! Nice to know you were thinking about me!:T
Don't do karma I am afraid, religion is for bears of very little brain.0 -
And of course Gideon's policies have reduced the deficit by errr increased it.0
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religion is for bears of very little brain.
Needlessly offensive;)
Good job I've only got fluff in my ear."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
Some proper research on the effect of Brown's abolition of ACT relief:
https://www.pensionspolicyinstitute.org.uk/uploadeddocuments/2010/20101209_PPI_The_impact_of_tax_policy_on_employer_sponsored_pension_provision.pdfThe perception of the cost of pension schemes was affected by this change. Media headlines around the time of the changes frequently referred to a ‘£5 billion raid on pension funds’, and subsequent headlines have continued to criticise the decision.
However, although the cost is uncertain, the initial cost was less than £5
billion per year, and probably more in the region of between £2.5bn and
£3.5bn per year as around £1.5 billion of the £5 billion in extra taxes came from removing tax relief from other investors (such as some individuals and charities). The lower corporation tax rates also gave companies who make profits more scope to increase their pension contributions, without being worse off. An estimate is that the offsetting gain to pension schemes could be as much as £1 billion per year.
The longer term impact on pension scheme income depended upon the
investment mix of funds, and the impact on the balance between dividend
payments and re-investment within UK companies.
The prevalence of the headlines in mainstream media and the tone of the
messages conveyed may have affected consumer sentiment; reinforcing the belief held by some that pensions are no longer good value.
So these sky-high figures quoted by some are just politically-motivated hysteria, it would appear.0 -
Some proper research on the effect of Brown's abolition of ACT relief:
https://www.pensionspolicyinstitute.org.uk/uploadeddocuments/2010/20101209_PPI_The_impact_of_tax_policy_on_employer_sponsored_pension_provision.pdf
So these sky-high figures quoted by some are just politically-motivated hysteria, it would appear.
What a surprise
'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0
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