In a surprise announcement at the start of 2014 David Cameron, the Prime Minister, said that maintaining the ‘triple lock’ for the basic state pension will be a key part of the Conservative’s next election manifesto. This would mean that, at least until 2020, the basic state pension would be increased annually by the rise in prices, earnings or 2.5 per cent – whichever is higher. In response the Labour leader Ed Miliband has also said he is committed to the triple lock.
Reaction has been variable. Some newspapers immediately suggested this would affect other benefits such as the winter fuel payment – the Daily Mail’s headline was ‘Turmoil over OAP benefits’. The Independent welcomed the announcement but said it does not go far enough pointing out that the basic pension is still only £110 a week.
Alternatively, others have focussed on what this means for younger people with the Intergenerational Foundation stating the move is unaffordable and ‘betrays’ the younger generation. Continue reading
Posted in Consumers, Government, Income, Money Matters
Tagged Age UK, Age UK blog, Ageing, ageing population, ageing society, Coalition Government, Conservative election manifesto, Conservativr election manifesto pensions, David Cameron pensions, David Cameron triple-lock, general election, general election 2015, Government, Incomes, money matters, older people, pensions, pensions triple lock, state pension, triple-lock, universal be, value of state pension triple lock
Lord Filkin was bitingly critical in his response to the Government’s response to his committee’s report on ‘Ready for Ageing?’ The report had peered twenty years ahead, and found that the political establishment was ‘woefully underprepared’ for the enormous changes presented by an ageing society: the response, Lord Filkin declared, showed that the Government was ‘wilfully underprepared’ to address these issues. He damned its focus ‘on past achievements and the coming election’, when what he wanted was a frank assessment of the changes we will need to make in welfare policies, pensions, health and social care, public services and citizen behaviour over the next couple of decades.
We share Lord Filkin’s frustration. It is clear that the Government finds it difficult to think long term – which is perhaps understandable in a Coalition Government with a programme pivoted on 2015. Whilst they have ignored the suggestion to produce a White Paper setting out strategies to approach changing demographics the Government’s rather minimalist response to ask its chief scientist to review the impact of ageing on policies may produce some fruit. Continue reading
Posted in Economy, General, Government, Public Policy
Tagged #population, @ReadyforAgeing, Age UK, Age UK blog, Ageing, ageing population, ageing society, Big Conversation, Coalition Government, demographic change, Fiscal Sustainability Report t, Government, Government response to Ready for Ageing?, House of Lords committee, House of Lords Committee on Public Service and Demographic Change, Lord Filkin, Mervyn Kohler, OBR, Office of Budgetary Responsibility, older people, public services, Ready for Ageing?