You seem a perfectly sensible chap generally, but given the many comments on here reacting to your commentary on today's pension reforms, and the fact you may be part of the Govt on May 6th next, I think many of us would like to be reassured that you actually appreciate the significance of today's announcements for many of us, and whether you would continue them or reverse them in Govt?
Well, I did say a few days ago that I thought the media had got bored with attacking Osborne over trivia - as in 2012. Look like I was right, and boy have they switched to the opposite extreme.
The Mirror really is the most pathetic newspaper in Britain, written by and for the sort of idiots who pretend to be outraged by the pasty tax and bingo budget rubbish.
According to the Mirror giving people control over their own money is high risk!
Danny Alexander tells Newsnight he thought Tory bingo budget poster was a "spoof"'
The out of touch twits know best.
Nah, he doesn't realise, it's all a fantastic P.R. stunt by Shapps...the silly boy.
It was always an Osbrowne master strategy of 'genius' to make Warsi take the blame for the chumocracy's Oldham by-election stupidity and then be replaced by the incompetent Shapps.
Just trying to catch up with the budget. Don't think it affects me from what I can tell.Limited savings tied up with mortgage. Don't drink much. Don't play bingo.
Do you not have a spare 15 grand a year lying round to stick in a tax-free savings account, like most Ordinary Hardworking People?
If Ed Miliband's speech today didn't matter (and it didn't), a twitterstorm over an online poster really doesn't matter. But I suppose it gives the chattering classes something to chatter about for 23.5 seconds.
Really,should the bbc be reporting this as a big story or even a story at all.
No, really, they SHOULD do this: because it just benefits the Tories.
Let's face it, most people who play bingo, or who are so poor a penny off a pint really matters, are - ahem - unlikely to follow intricate Budget developments very closely. I'm not saying all Bingo players and poor people are dim, but... they probably have other, more pressing priorities than following the speeches in the Commons.
So Osborne's gesture was most unlikely to cut through to them, as it stands. Now this has gone viral - albeit not in the way Shapps intended - my guess it will only do the Tories good. Because these are tax CUTS, not new TAXES. The people who benefit won't worry about being *patronised*, FFS, they will - if they think about it at all - feel more favourable towards the government.
The Tories should do patronising posters about every single positive, tax-cutting, pensioner-enabling move in the Budget, and hope that Labour and Twitter get equally excited, thus spreading the word. For free.
Social Media Failure for the Left.
Are there any Bingo halls in Primrose Hill (or Chalk Farm at a stretch)?
Actually there is one in Arlington Street, about 3 minutes walk from my flat (Camden Town/Primrose Hill is an intense, weird mix of races and classes). I regularly see chainsmoking chav women outside, bless 'em, about 20 yards from ludicrously expensive gastro-caffs where you can buy "artisanal organic toast" for a tenner.
These people might not have noticed the Bingo Tax CUT if there hadn't been a fuss about it on social media, which then reached the TV news.
If it has any affect at all (debatable), I now predict this tax cut will benefit the Tories, thanks to all the publicity.
They live hidden away in the big estates off Euston Road, Camden Road and in Somers Town, and they're the reason why Camden is solid Labour at GEs. No wonder you despise them!
I KNOW. I've squatted in some of those same estates. Have you?
I now confidently expect camden to swing Tory, following the PATRONISING SCANDAL that is a Tory government DARING TO GIVE TAX CUTS TO STUPID WORKING CLASS FOLK.
Never squatted. My Mum's parents lived on the estate behind Swiss Cottage.
That's the sound of a desperate Labour rearguard twitter action deflating rapidly after seeing the Sun front page
The thing is I cannot see any Labour people on #letthemeatbingo. It looks like it has just erupted on it's own. Some cracking mock posters in there though ;-)
That's the sound of a desperate Labour rearguard twitter action deflating rapidly after seeing the Sun front page
The thing is I cannot see any Labour people on #letthemeatbingo. It looks like it has just erupted on it's own. Some cracking mock posters in there though ;-)
It's genuine, isn't it? They are not pretending, they really, really don't get it, so completely out of touch are the public-sector-biased, final-salary-scheme left.
Here is a classic from Jonathan Freedland in the Guardian: the biggest shake-up in pensions for a generation dismissed as 'fluffy little delights'.
That does seem to be the case up to £30 000, or a tax free lump sum of a quarter of the total pot. Above that the drawdown rules may mean that you can only withdraw the amount that you would have got from an annuity. It may well be these still exist, but not yet clear.
It's genuine, isn't it? They are not pretending, they really, really don't get it, so completely out of touch are the public-sector-biased, final-salary-scheme left.
Here is a classic from Jonathan Freedland in the Guardian: the biggest shake-up in pensions for a generation dismissed as 'fluffy little delights'.
You seem a perfectly sensible chap generally, but given the many comments on here reacting to your commentary on today's pension reforms, and the fact you may be part of the Govt on May 6th next, I think many of us would like to be reassured that you actually appreciate the significance of today's announcements for many of us, and whether you would continue them or reverse them in Govt?
It's a rare day that I get favourable comments from JohnZims, Nigel4England and RichardN! But bear in mind that I very rarely comment here on the merits of proposals (because too many only debate on partisan terms), but only on their political impact. I think the changes are interesting and important for people who are near but not yet in retirement, but won't be seen as significant by most other people.
Since you askl - I'm wary of abolshing the annuity requirement, since it's there for a reason. It's odd for the Chancellor to go on about benefits and then open a direct route to spending your pension pot and then going on benefits. I can see why it'll be popular to open an additional option (I doubt if Labour will reverse it), and in due course I'll benefit myself from my current work pension. But the general tendency of the package is to borrow from future governments. To quote Kirkup in the Telegraph:
"Overall then, a pro-saving policy that encourages people to spend, and a cut in tax on pensions that increases the tax take on pensions ... " "An interesting take on the pro-savings Budget from the OBR:Overall, consumer spending growth in 2013 appears to have been financed more by lower saving than by higher incomes. With consumer spending growth forecast to outpace disposable income growth over the near term, we forecast that the saving ratio will fall from just under 5 per cent in 2013 to just over 4 per cent in 2014, before declining gradually to around 3 per cent by the end of the forecast period."
That does seem to be the case up to £30 000, or a tax free lump sum of a quarter of the total pot. Above that the drawdown rules may mean that you can only withdraw the amount that you would have got from an annuity. It may well be these still exist, but not yet clear.
Osborne's pension changes. Big tax grab for the government !!
It's good stuff. Labour will surely support it all. Especially because it does mean more tax.
If Gordon Brown does it, it's bad. If Osbrowne does it, it's clever !
It's just a more sensible way of approaching and incentivising saving in 21st century. Labour will broadly back it because there's no reason to oppose.
Really,should the bbc be reporting this as a big story or even a story at all.
No, really, they SHOULD do this: because it just benefits the Tories.
Are there any Bingo halls in Primrose Hill (or Chalk Farm at a stretch)?
Actually there is one in Arlington Street, about 3 minutes walk from my flat (Camden Town/Primrose Hill is an intense, weird mix of races and classes). I regularly see chainsmoking chav women outside, bless 'em, about 20 yards from ludicrously expensive gastro-caffs where you can buy "artisanal organic toast" for a tenner.
These people might not have noticed the Bingo Tax CUT if there hadn't been a fuss about it on social media, which then reached the TV news.
If it has any affect at all (debatable), I now predict this tax cut will benefit the Tories, thanks to all the publicity.
They live hidden away in the big estates off Euston Road, Camden Road and in Somers Town, and they're the reason why Camden is solid Labour at GEs. No wonder you despise them!
I KNOW. I've squatted in some of those same estates. Have you?
I now confidently expect camden to swing Tory, following the PATRONISING SCANDAL that is a Tory government DARING TO GIVE TAX CUTS TO STUPID WORKING CLASS FOLK.
Never squatted. My Mum's parents lived on the estate behind Swiss Cottage.
SO I WIN. Squatting is clearly more subversive, lefty and challenging than "renting from the caaaaancil"
Squatting is crap, but it is de rigeur for the degenerate and louche as the embark on their journeys to the right. You'll be baiting lefties with dear old Swampy some day.
On the pension thing - as I understand it, which doesn't mean much - can people now cash in and spend the lot when they retire?
Yes, after paying their tax on it.
And then?
They live off their state pension entitlement or any defined benefit pensions they have accrued during their career. If they have bothered to put money away in a personal pension during their working life then they are probably not going to be idiots.
Osborne's pension changes. Big tax grab for the government !!
It's good stuff. Labour will surely support it all. Especially because it does mean more tax.
If Gordon Brown does it, it's bad. If Osbrowne does it, it's clever !
It's just a more sensible way of approaching and incentivising saving in 21st century. Labour will broadly back it because there's no reason to oppose.
I am only 8 years away from retirement and I welcome it. But I am not sure if everyone can really "look after" themselves. Now I am talking like Grant Shapps !
There are examples. Peopel winning millions on the lottery and yet ending up destitute !
Really,should the bbc be reporting this as a big story or even a story at all.
No, really, they SHOULD do this: because it just benefits the Tories.
Are there any Bingo halls in Primrose Hill (or Chalk Farm at a stretch)?
Actually there is one in Arlington Street, about 3 minutes walk from my flat (Camden Town/Primrose Hill is an intense, weird mix of races and classes). I regularly see chainsmoking chav women outside, bless 'em, about 20 yards from ludicrously expensive gastro-caffs where you can buy "artisanal organic toast" for a tenner.
These people might not have noticed the Bingo Tax CUT if there hadn't been a fuss about it on social media, which then reached the TV news.
If it has any affect at all (debatable), I now predict this tax cut will benefit the Tories, thanks to all the publicity.
They live hidden away in the big estates off Euston Road, Camden Road and in Somers Town, and they're the reason why Camden is solid Labour at GEs. No wonder you despise them!
I KNOW. I've squatted in some of those same estates. Have you?
I now confidently expect camden to swing Tory, following the PATRONISING SCANDAL that is a Tory government DARING TO GIVE TAX CUTS TO STUPID WORKING CLASS FOLK.
Never squatted. My Mum's parents lived on the estate behind Swiss Cottage.
SO I WIN. Squatting is clearly more subversive, lefty and challenging than "renting from the caaaaancil"
Squatting is crap, but it is de rigeur for the degenerate and louche as the embark on their journeys to the right. You'll be baiting lefties with dear old Swampy some day.
I'm still forming my view of the pensions reforms. I need to delve into the detail really.
As an initial observation, there are dangers of moral hazard in the government's pensions reform, but very old people have far fewer outgoings* in general than younger post-retirement people, having slowed down to become old and grey and full of sleep. Allowing pensioners to enjoy more of their money earlier at a time when they can make better use of it is rational.
*This is not true for the one in six of us that need longterm care. But this reform may open up new insurance possibilities there too.
I think its worth noting the Express front page as probably the most ludicrously partisan page in history;
PENSIONS AND SAVINGS JOY FOR ALL
Can they go any further? Maybe:
DI-HATING LABOUR PEDOS ENSURE WINTER STORM HOLOCAUST
In the last two months SeanT has become a raging, fanatical, dyed in the Blue Tory. Before that he took pot shots at any and all parties, even had a couple of weeks where he was even liking UKIP.
What happened to our likeable, irascible no holds barred SeanT, that he is in Cammo's pocket and loves the EU? Has he been bought?
@surbiton - Yes, but more the the point there are many thousands of pensioners each year who are forced to buy annuities at piss-poor rates, and who end up destitute because the value of the annuities is eroded away by inflation (Inflation-linked annuities are so ludicrously expensive that they account for only 5% of the market).
Really,should the bbc be reporting this as a big story or even a story at all.
No, really, they SHOULD do this: because it just benefits the Tories.
Are there any Bingo halls in Primrose Hill (or Chalk Farm at a stretch)?
Actually there is one in Arlington Street, about 3 minutes walk from my flat (Camden Town/Primrose Hill is an intense, weird mix of races and classes). I regularly see chainsmoking chav women outside, bless 'em, about 20 yards from ludicrously expensive gastro-caffs where you can buy "artisanal organic toast" for a tenner.
These people might not have noticed the Bingo Tax CUT if there hadn't been a fuss about it on social media, which then reached the TV news.
If it has any affect at all (debatable), I now predict this tax cut will benefit the Tories, thanks to all the publicity.
They live hidden away in the big estates off Euston Road, Camden Road and in Somers Town, and they're the reason why Camden is solid Labour at GEs. No wonder you despise them!
I KNOW. I've squatted in some of those same estates. Have you?
I now confidently expect camden to swing Tory, following the PATRONISING SCANDAL that is a Tory government DARING TO GIVE TAX CUTS TO STUPID WORKING CLASS FOLK.
Never squatted. My Mum's parents lived on the estate behind Swiss Cottage.
SO I WIN. Squatting is clearly more subversive, lefty and challenging than "renting from the caaaaancil"
Suppose if you bollock on about it constantly it will make you feel better in your own heart about being, fundamentally, an effete posh boy.
Really,should the bbc be reporting this as a big story or even a story at all.
No, really, they SHOULD do this: because it just benefits the Tories.
Are there any Bingo halls in Primrose Hill (or Chalk Farm at a stretch)?
Actually there is one in Arlington Street, about 3 minutes walk from my flat (Camden Town/Primrose Hill is an intense, weird mix of races and classes). I regularly see chainsmoking chav women outside, bless 'em, about 20 yards from ludicrously expensive gastro-caffs where you can buy "artisanal organic toast" for a tenner.
These people might not have noticed the Bingo Tax CUT if there hadn't been a fuss about it on social media, which then reached the TV news.
If it has any affect at all (debatable), I now predict this tax cut will benefit the Tories, thanks to all the publicity.
They live hidden away in the big estates off Euston Road, Camden Road and in Somers Town, and they're the reason why Camden is solid Labour at GEs. No wonder you despise them!
I KNOW. I've squatted in some of those same estates. Have you?
I now confidently expect camden to swing Tory, following the PATRONISING SCANDAL that is a Tory government DARING TO GIVE TAX CUTS TO STUPID WORKING CLASS FOLK.
Never squatted. My Mum's parents lived on the estate behind Swiss Cottage.
SO I WIN. Squatting is clearly more subversive, lefty and challenging than "renting from the caaaaancil"
But have you actually played Bingo like I have? Albeit a classroom version of it with your teacher as "caller"?
I think its worth noting the Express front page as probably the most ludicrously partisan page in history;
PENSIONS AND SAVINGS JOY FOR ALL
Can they go any further? Maybe:
DI-HATING LABOUR PEDOS ENSURE WINTER STORM HOLOCAUST
In the last two months SeanT has become a raging, fanatical, dyed in the Blue Tory. Before that he took pot shots at any and all parties, even had a couple of weeks where he was even liking UKIP.
What happened to our likeable, irascible no holds barred SeanT, that he is in Cammo's pocket and loves the EU? Has he been bought?
That does seem to be the case up to £30 000, or a tax free lump sum of a quarter of the total pot. Above that the drawdown rules may mean that you can only withdraw the amount that you would have got from an annuity. It may well be these still exist, but not yet clear.
I had missed the abolition of the 10% rate of tax on savings up to £5 000. That will be useful to pensioners with modest savings.
It does seem as if the drawdown limits will exist with a maximum drawdown rate of 150% of an annuity for next year. The consultation about being able to take the lot and spend, spend spend starts on March 27th.
I think its worth noting the Express front page as probably the most ludicrously partisan page in history;
PENSIONS AND SAVINGS JOY FOR ALL
Can they go any further? Maybe:
DI-HATING LABOUR PEDOS ENSURE WINTER STORM HOLOCAUST
In the last two months SeanT has become a raging, fanatical, dyed in the Blue Tory. Before that he took pot shots at any and all parties, even had a couple of weeks where he was even liking UKIP.
What happened to our likeable, irascible no holds barred SeanT, that he is in Cammo's pocket and loves the EU? Has he been bought?
Next thing the posh chap will be calling Osbrowne an 'economic genius'.
I think its worth noting the Express front page as probably the most ludicrously partisan page in history;
PENSIONS AND SAVINGS JOY FOR ALL
Can they go any further? Maybe:
DI-HATING LABOUR PEDOS ENSURE WINTER STORM HOLOCAUST
In the last two months SeanT has become a raging, fanatical, dyed in the Blue Tory. Before that he took pot shots at any and all parties, even had a couple of weeks where he was even liking UKIP.
What happened to our likeable, irascible no holds barred SeanT, that he is in Cammo's pocket and loves the EU? Has he been bought?
I think its worth noting the Express front page as probably the most ludicrously partisan page in history;
PENSIONS AND SAVINGS JOY FOR ALL
Can they go any further? Maybe:
DI-HATING LABOUR PEDOS ENSURE WINTER STORM HOLOCAUST
In the last two months SeanT has become a raging, fanatical, dyed in the Blue Tory. Before that he took pot shots at any and all parties, even had a couple of weeks where he was even liking UKIP.
What happened to our likeable, irascible no holds barred SeanT, that he is in Cammo's pocket and loves the EU? Has he been bought?
Jaw on floor. A Labour spokesman on #newsnight just said "you can't trust people to spend their own money
Who was the spokesman ?
John McTernan.
The infamous "no-brainer" McTernan who the out of touch PB tories won't know much about obviously. One of the 'brains' behind SLAB's 2011 scottish election triumph, someone who had quite possibly the worst stint ever as a PR 'guru' in Australia and now a chief cheerleader for the No Campaign as well as an unofficial adviser to 'better together' and SLAB.
Osborne's pension changes. Big tax grab for the government !!
It's good stuff. Labour will surely support it all. Especially because it does mean more tax.
If Gordon Brown does it, it's bad. If Osbrowne does it, it's clever !
It's just a more sensible way of approaching and incentivising saving in 21st century. Labour will broadly back it because there's no reason to oppose.
I am only 8 years away from retirement and I welcome it. But I am not sure if everyone can really "look after" themselves. Now I am talking like Grant Shapps !
There are examples. Peopel winning millions on the lottery and yet ending up destitute !
Well, that's their problem really, isn't it? Feckless pensioners will still get the state payment and they'll just have to get by on that. However, if you're the kind of person who puts money away for 30 or 40 years, you're unlikely to be the sort who pisses it away in a couple of years when you get hold of your pot.
Problem for Osborne is that he wishes he was like Lawson. The difference is that Lawson possesses a brain.........
Agree that Lawson does indeed posses a brain as can be witnessed by his vehement opposition to the climate warming bollocks.
But even though I am a kipper and have never voted Tory, Osborne is beginning to look like an economic genius.
The only G7 country with economic output still lower than 2008 !!!
Surby
The reason for that, Surby, is that the UK under Brown suffered the worst fall in GDP of all G7 countries.
As I explained to you a few days ago, if you align all the trough low points, then you will see that the UK under Osborne has grown faster than all its peers (except possibly the US depending on where your cut off point for post crash growth falls).
That does seem to be the case up to £30 000, or a tax free lump sum of a quarter of the total pot. Above that the drawdown rules may mean that you can only withdraw the amount that you would have got from an annuity. It may well be these still exist, but not yet clear.
I had missed the abolition of the 10% rate of tax on savings up to £5 000. That will be useful to pensioners with modest savings.
It does seem as if the drawdown limits will exist with a maximum drawdown rate of 150% of an annuity for next year. The consultation about being able to take the lot and spend, spend spend starts on March 27th.
I have a private SIPP pension with HL.
I have a pension from my *easy years* in the private sector, thinking about it. I need to swot up on retirement I reckon. Those shadows are lengthening.
Plus my public sector feather-bedded gold-plater of course. Dunno what I'm worrying about.
@SeanT I doubt whether Yeats ever wrote of annuitisation and income drawdown, but if you know of a good quote from him on those topics, I'm in the market.
Did anyone notice the last question in this Yougov/Times Euro poll
UKIP is full of oddballs and ectremists Agree 48% Disagree 30% DK 22% 53% of Conservatives 63% of Labour voters and 71% of Lib Dems agree as do even 14% of UKIP voters
@BBCNewsnight: You can't trust people to spend their own money sensibly - Labour's @johnmcternan on #newsnight.
Well, that's killed the 'patronizing Shapps and his bingo' attack stone dead. Labour are now sneering at the masses who presume to believe they can manage there own financial affairs. Labour just need this day to end!
Osborne's pension changes. Big tax grab for the government !!
It's good stuff. Labour will surely support it all. Especially because it does mean more tax.
If Gordon Brown does it, it's bad. If Osbrowne does it, it's clever !
It's just a more sensible way of approaching and incentivising saving in 21st century. Labour will broadly back it because there's no reason to oppose.
I am only 8 years away from retirement and I welcome it. But I am not sure if everyone can really "look after" themselves. Now I am talking like Grant Shapps !
There are examples. Peopel winning millions on the lottery and yet ending up destitute !
Well, that's their problem really, isn't it? Feckless pensioners will still get the state payment and they'll just have to get by on that. However, if you're the kind of person who puts money away for 30 or 40 years, you're unlikely to be the sort who pisses it away in a couple of years when you get hold of your pot.
@BBCNewsnight: You can't trust people to spend their own money sensibly - Labour's @johnmcternan on #newsnight.
Well, that's killed the 'patronizing Shapps and his bingo' attack stone dead. Labour are now sneering at the masses who presume to believe they can manage there own financial affairs. Labour just need this day to end!
It hasn't,they just showed the shapps/bingo tweet on sky news.
"Oh dear God. Is this down to that Shapps berk? I saw it on twitter and genuinely believed that it was a Labour spoof doing the rounds.
There's out of touch and there's off the bloody planet."
Do all these people not realise that it is a fantastic PR stunt advertising a fantastic Tory policy aimed at thickoes....or that was how it was described earlier.
I have my final salary pension also, which seems to be safe for now due to the Tories accepting the Hutton report. I also have a modest SIPP pension as back up. I do not entirely trust governments not to raid my superannuation.
Currently medical NHS super annuation is a net contributor to the treasury, but if this changes to be a net drain on the exchequer then it may be under threat.
Always have a back up plan*
* no requirement for this if running the YES campaign, as bluff and bluster will do
That does seem to be the case up to £30 000, or a tax free lump sum of a quarter of the total pot. Above that the drawdown rules may mean that you can only withdraw the amount that you would have got from an annuity. It may well be these still exist, but not yet clear.
I had missed the abolition of the 10% rate of tax on savings up to £5 000. That will be useful to pensioners with modest savings.
It does seem as if the drawdown limits will exist with a maximum drawdown rate of 150% of an annuity for next year. The consultation about being able to take the lot and spend, spend spend starts on March 27th.
I have a private SIPP pension with HL.
I have a pension from my *easy years* in the private sector, thinking about it. I need to swot up on retirement I reckon. Those shadows are lengthening.
Plus my public sector feather-bedded gold-plater of course. Dunno what I'm worrying about.
'YOU CAN'T TRUST PEOPLE TO SPEND THEIR OWN MONEY SENSIBLY' - a senior Labour politician.
Really, that is just GOLD. Every single Tory spin doc in the realm should be on that tomorrow. Hammer it home. Don't let go. Put it on posters. It is immortal. It sums up Labour's deep, concealed contempt for their voters in a sentence. They think their own supporters are thick, nasty, stupid, Illiterate racists, which is why they must never be allowed a say on Europe. Or even a say on their own pensions.
@grantshapps Danny Alexander just said on #newsnight your Bingo ad so patronising he thought it was a spoof. Any response?
Comedy Gold.
Damn that lefty labour spinner Alexander for his insolence! Time for the incompetent fop to give a wee Danny good thrashing or indeed a good hard 'Gove' as Cammie would term his verbal onslaughts.
'YOU CAN'T TRUST PEOPLE TO SPEND THEIR OWN MONEY SENSIBLY' - a senior Labour politician.
Really, that is just GOLD. Every single Tory spin doc in the realm should be on that tomorrow. Hammer it home. Don't let go. Put it on posters. It is immortal. It sums up Labour's deep, concealed contempt for their voters in a sentence. They think their own supporters are thick, nasty, stupid, Illiterate racists, which is why they must never be allowed a say on Europe. Or even a say on their own pensions.
'YOU CAN'T TRUST PEOPLE TO SPEND THEIR OWN MONEY SENSIBLY' - a senior Labour politician.
Really, that is just GOLD. Every single Tory spin doc in the realm should be on that tomorrow. Hammer it home. Don't let go. Put it on posters. It is immortal. It sums up Labour's deep, concealed contempt for their voters in a sentence. They think their own supporters are thick, nasty, stupid, Illiterate racists, which is why they must never be allowed a say on Europe. Or even a say on their own pensions.
Comments
Nah, he doesn't realise, it's all a fantastic P.R. stunt by Shapps...the silly boy.
'Bloody hell,brilliant front pages for Osborne even the leftwing papers only grumble'
Lefties will be wetting themselves with outrage at the patronizing front page of The Sun.
You seem a perfectly sensible chap generally, but given the many comments on here reacting to your commentary on today's pension reforms, and the fact you may be part of the Govt on May 6th next, I think many of us would like to be reassured that you actually appreciate the significance of today's announcements for many of us, and whether you would continue them or reverse them in Govt?
It was always an Osbrowne master strategy of 'genius' to make Warsi take the blame for the chumocracy's Oldham by-election stupidity and then be replaced by the incompetent Shapps.
One of our teachers at primary school was a bit of a fan, you see, and got us playing at least once a week.
Enjoy a pint and the bingo !!
LOL
'Do you not have a spare 15 grand a year lying round to stick in a tax-free savings account, like most Ordinary Hardworking People?'
Don't know why the Osborne bothered, it's only 24 million rich toffs that have ISA's.
That's the sound of a desperate Labour rearguard twitter action deflating rapidly after seeing the Sun front page
Super rail!
The Shapps advert is so bad Danny Alexander has dissociated himself from it. #thatbad
Andy Vickers @tigershuffle 17m
@greg_jenner Danny Alexander squirming about Grant Shapps crass bingo bollocks poster. All graphs will be shown this way in future
*chortle*
Grant Shapps is Chair of the Tory Party. An actual chair would do less damage, and make better posters #LetThemEatBingo
Here is a classic from Jonathan Freedland in the Guardian: the biggest shake-up in pensions for a generation dismissed as 'fluffy little delights'.
http://www.theguardian.com/commentisfree/2014/mar/19/budget-2014-chancellor-eyes-2015-general-election
Danny Alexander on the Tories' 'beer + bingo' budget ad: 'Pretty patronising... I thought it was a spoof'
It's genuine, isn't it? They are not pretending, they really, really don't get it, so completely out of touch.
ROFL
Since you askl - I'm wary of abolshing the annuity requirement, since it's there for a reason. It's odd for the Chancellor to go on about benefits and then open a direct route to spending your pension pot and then going on benefits. I can see why it'll be popular to open an additional option (I doubt if Labour will reverse it), and in due course I'll benefit myself from my current work pension. But the general tendency of the package is to borrow from future governments. To quote Kirkup in the Telegraph:
"Overall then, a pro-saving policy that encourages people to spend, and a cut in tax on pensions that increases the tax take on pensions ... "
"An interesting take on the pro-savings Budget from the OBR:Overall, consumer spending growth in 2013 appears to have been financed more by lower saving than by higher incomes. With consumer spending growth forecast to outpace disposable income growth over the near term, we forecast that the saving ratio will fall from just under 5 per cent in 2013 to just over 4 per cent in 2014, before declining gradually to around 3 per cent by the end of the forecast period."
Watford 'marginal Britain personified' - recovery certainly not real for everyone
The word of @Ave_it, isn't hitting Watford - cnuts ;-)
However, that isn't my point, which is that Labour haven't understood the political significance.
Vote for the Coalition!
Um...somehow...
They live off their state pension entitlement or any defined benefit pensions they have accrued during their career. If they have bothered to put money away in a personal pension during their working life then they are probably not going to be idiots.
There are examples. Peopel winning millions on the lottery and yet ending up destitute !
Con 42% (352)
Lab 32% (236)
Small party 16% (36)
Others 10% (26) (SNP 5 PC 3 NI 18 Oth 0)
Tina Stowell @tinastowell
Jaw on floor. A Labour spokesman on #newsnight just said "you can't trust people to spend their own money
Who was the spokesman ?
Could make all the difference to this government staying in office or not...
As an initial observation, there are dangers of moral hazard in the government's pensions reform, but very old people have far fewer outgoings* in general than younger post-retirement people, having slowed down to become old and grey and full of sleep. Allowing pensioners to enjoy more of their money earlier at a time when they can make better use of it is rational.
*This is not true for the one in six of us that need longterm care. But this reform may open up new insurance possibilities there too.
What happened to our likeable, irascible no holds barred SeanT, that he is in Cammo's pocket and loves the EU? Has he been bought?
http://www.ifaonline.co.uk/ifaonline/feature/2301326/a-hard-sell-the-problem-with-inflation-linked-annuities
But even though I am a kipper and have never voted Tory, Osborne is beginning to look like an economic genius.
I had missed the abolition of the 10% rate of tax on savings up to £5 000. That will be useful to pensioners with modest savings.
It does seem as if the drawdown limits will exist with a maximum drawdown rate of 150% of an annuity for next year. The consultation about being able to take the lot and spend, spend spend starts on March 27th.
I have a private SIPP pension with HL.
LOL
Go Grant!
.@dannyalexander describes the Tory Bingo poster as "patronising" and "demeans" sensible polices on #newsnight
Danny is in on #LetThemEatBingo
The reason for that, Surby, is that the UK under Brown suffered the worst fall in GDP of all G7 countries.
As I explained to you a few days ago, if you align all the trough low points, then you will see that the UK under Osborne has grown faster than all its peers (except possibly the US depending on where your cut off point for post crash growth falls).
Plus my public sector feather-bedded gold-plater of course. Dunno what I'm worrying about.
Hilarious watching Danny Alexander putting blame on Grant Shapps for that unbelievably patronising Bingo and Beer poster
"We're all in this together.
UKIP is full of oddballs and ectremists Agree 48% Disagree 30% DK 22%
53% of Conservatives 63% of Labour voters and 71% of Lib Dems agree as do even 14% of UKIP voters
http://www.theguardian.com/business/2014/mar/11/oecd-predicts-uk-economic-recovery-strongest-g7-2014
"Oh dear God. Is this down to that Shapps berk?
I saw it on twitter and genuinely believed that it was a Labour spoof doing the rounds.
There's out of touch and there's off the bloody planet."
Do all these people not realise that it is a fantastic PR stunt advertising a fantastic Tory policy aimed at thickoes....or that was how it was described earlier.
Currently medical NHS super annuation is a net contributor to the treasury, but if this changes to be a net drain on the exchequer then it may be under threat.
Always have a back up plan*
* no requirement for this if running the YES campaign, as bluff and bluster will do
This is the day Labour lost the next election.
Ian Katz @iankatz1000 45m
@grantshapps Danny Alexander just said on #newsnight your Bingo ad so patronising he thought it was a spoof. Any response?
Comedy Gold.
Damn that lefty labour spinner Alexander for his insolence! Time for the incompetent fop to give a wee Danny good thrashing or indeed a good hard 'Gove' as Cammie would term his verbal onslaughts.
http://www.reuters.com/article/2014/03/19/us-russia-estonia-idUSBREA2I1J620140319
Well, that was bloody predictable.
One thing whole #newsnight panel agrees on is pointlessness of annual budgets
Aside from the fop comedy of course.
*chortle*