| Has Burnham focussed yet on the National debt? 23:07 - Aug 6 with 12161 views | ReslovenSwan1 |
With out doubt one of the biggest issues is national debt. It is currently hitting £3 Trillion. (A Trillion is a thousand billion.) £3,000,000,000,000. For each citizen the debt is £43,000 and growing.
The debt really kicked on after the £500 billion bankers bail out of 2009 when it was less than £1 Trillion.
The second spike was the Covid related borrowing for furlough and infrastructure etc 2020 -2021.
https://commonslibrary.parliam
I do not know what Burnham's priorities are but if it is not reducing the deficit and then debt then he is just fiddling on the roof while the house burns beneath him.
When Starmer tried to trim the budget his Chancellor was seen sobbing n the House of Commons after folding to MP pressure. He has no election for 3 years so should take unpopular decisions and cut the deficit first and then the debt.
Reform and Plaid in the Senedd is concentrating on Gender definition. If Wales went independent our share of the debt would be £150 billion. (5% of the total debt)
UK interest payment of this debt annually is £110 billion. (including my premium bond winnings)
[Post edited 6 Aug 23:13]
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| Has Burnham focussed yet on the National debt? on 16:50 - Sep 23 with 255 views | Gwyn737 |
| Has Burnham focussed yet on the National debt? on 15:44 - Sep 23 by Boundy |
Because it’s not a benefit it’s an agreement between the payee and government that monies paid in will be returned on retirement age , are you willing to give up yours for the good of the country ? , not everyone has the luxury of index linked private pensions or a decent pay to put money aside for their futures . This country was built on the sweat and hard work of people who paid compulsorily paid into a scheme , if they opted out then that’s their lookout but the majority didn’t .You say it takes up half the welfare bill but it’s not the other half who’ve paid into the system , just taken from it. |
TBH I'm not expecting to have a state pension - at least not in it's current format. |  | | |
| Has Burnham focussed yet on the National debt? on 16:54 - Sep 23 with 241 views | Gwyn737 |
| Has Burnham focussed yet on the National debt? on 16:42 - Sep 23 by raynor94 |
Us pesky pensioners are hanging about for far to long we all had a far to easy life see |
It's not a blame thing, it's circumstance.
I don't think anyoune could have seen the falling birth rate and the effect it has.
Things are hard for young people now and again I'm not blaming but the fact remains that it's them that are having to pay for pensions.
I don't see a lot of sypathy for those hard working yougsters and there are plenty of them. | | | |
| Has Burnham focussed yet on the National debt? on 17:03 - Sep 23 with 233 views | Whiterockin |
| Has Burnham focussed yet on the National debt? on 16:50 - Sep 23 by Gwyn737 |
TBH I'm not expecting to have a state pension - at least not in it's current format. |
You didn't sign up to it like we did. What we were told was pay X number years NI for a full state pension to see you through your retirement years. Take out a mortgage and buy your own house and there will be no need to pay rent out of your pension. As time went by we were advised to take out top up private pensions if we did not have a company or government employee pension, this would enhance our quality of life in retirement. What we were not told is the lazy buggers who did F all throughout their life would have everything for nothing or that we would be taxed on everything we get. With hindsight what was the incentive to work hard and save. |  | | |
| Has Burnham focussed yet on the National debt? on 17:04 - Sep 23 with 221 views | raynor94 |
| Has Burnham focussed yet on the National debt? on 16:54 - Sep 23 by Gwyn737 |
It's not a blame thing, it's circumstance.
I don't think anyoune could have seen the falling birth rate and the effect it has.
Things are hard for young people now and again I'm not blaming but the fact remains that it's them that are having to pay for pensions.
I don't see a lot of sypathy for those hard working yougsters and there are plenty of them. |
Are they paying for the pip and uc as well? I paid in for 42 years on the understanding that I would receive a pension on retirement so pardon me if I don't feel any guilt at all |  |
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| Has Burnham focussed yet on the National debt? on 17:05 - Sep 23 with 221 views | Gwyn737 |
| Has Burnham focussed yet on the National debt? on 17:03 - Sep 23 by Whiterockin |
You didn't sign up to it like we did. What we were told was pay X number years NI for a full state pension to see you through your retirement years. Take out a mortgage and buy your own house and there will be no need to pay rent out of your pension. As time went by we were advised to take out top up private pensions if we did not have a company or government employee pension, this would enhance our quality of life in retirement. What we were not told is the lazy buggers who did F all throughout their life would have everything for nothing or that we would be taxed on everything we get. With hindsight what was the incentive to work hard and save. |
I've no issue with those for whom that is the case, WR. They shouldn't have the rug pulled from under them.
We do need future reform though and I think that starts with looking at the Triple lock. Its oush costs down to those who have to fund it at an unfair rate IMO. | | | |
| Has Burnham focussed yet on the National debt? on 17:09 - Sep 23 with 217 views | raynor94 |
| Has Burnham focussed yet on the National debt? on 17:03 - Sep 23 by Whiterockin |
You didn't sign up to it like we did. What we were told was pay X number years NI for a full state pension to see you through your retirement years. Take out a mortgage and buy your own house and there will be no need to pay rent out of your pension. As time went by we were advised to take out top up private pensions if we did not have a company or government employee pension, this would enhance our quality of life in retirement. What we were not told is the lazy buggers who did F all throughout their life would have everything for nothing or that we would be taxed on everything we get. With hindsight what was the incentive to work hard and save. |
Brilliant post after 10 years of retirement I'm still being taxed so perhaps I'm still contributing to my pension just like all these youngsters | |
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| Has Burnham focussed yet on the National debt? on 17:11 - Sep 23 with 217 views | Whiterockin |
| Has Burnham focussed yet on the National debt? on 17:05 - Sep 23 by Gwyn737 |
I've no issue with those for whom that is the case, WR. They shouldn't have the rug pulled from under them.
We do need future reform though and I think that starts with looking at the Triple lock. Its oush costs down to those who have to fund it at an unfair rate IMO. |
Shall we not mention ladies like my wife who had her retirement age raised without enough time to sensibly reorganise her retirement including her government employee pension.
Or the 1997 Gordon Brown pension raid. | | | |
| Has Burnham focussed yet on the National debt? on 17:40 - Sep 23 with 186 views | Gwyn737 |
| Has Burnham focussed yet on the National debt? on 17:11 - Sep 23 by Whiterockin |
Shall we not mention ladies like my wife who had her retirement age raised without enough time to sensibly reorganise her retirement including her government employee pension.
Or the 1997 Gordon Brown pension raid. |
Both were very poorly executed.
Doesn’t mean we shouldn’t look forward and do better. [Post edited 23 Sep 18:01]
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| Has Burnham focussed yet on the National debt? on 17:43 - Sep 23 with 183 views | Gwyn737 |
| Has Burnham focussed yet on the National debt? on 17:09 - Sep 23 by raynor94 |
Brilliant post after 10 years of retirement I'm still being taxed so perhaps I'm still contributing to my pension just like all these youngsters |
Fortunately the triple lock has meant the rate you pension has grown has been substantially greater than the wages of those youngsters who also contribute.
Those youngsters who will probably get a considerably worse deal when the hit pension age. | | | |
| Has Burnham focussed yet on the National debt? on 17:49 - Sep 23 with 160 views | trampie |
| Has Burnham focussed yet on the National debt? on 17:43 - Sep 23 by Gwyn737 |
Fortunately the triple lock has meant the rate you pension has grown has been substantially greater than the wages of those youngsters who also contribute.
Those youngsters who will probably get a considerably worse deal when the hit pension age. |
The reason for the Triple Lock was to try and ensure pensioners keep pace with the rest of the working population, they were so badly paid that they had to have a system to enable them to try and catch up with the rest. |  |
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| Has Burnham focussed yet on the National debt? on 17:54 - Sep 23 with 170 views | raynor94 |
| Has Burnham focussed yet on the National debt? on 17:43 - Sep 23 by Gwyn737 |
Fortunately the triple lock has meant the rate you pension has grown has been substantially greater than the wages of those youngsters who also contribute.
Those youngsters who will probably get a considerably worse deal when the hit pension age. |
Sorry but what a load of waffle yes my pension has grown but so has my tax bill you are aiming your ire at the the wrong group benefit claimants who have never worked including many youngsters who have no intention of working would be a better target
I worked hard in heavy industry from the day I left school for 42 years so i think ive paid my dues | |
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| Has Burnham focussed yet on the National debt? on 17:58 - Sep 23 with 167 views | Dr_Winston |
| Has Burnham focussed yet on the National debt? on 13:44 - Sep 23 by Gwyn737 |
And they were wrong to frame it in that way.
No argument from me. |
Agree completely with this. The messaging around Pensions should have been changed decades ago, but Governments have all been scared to.
It is a benefit. Paid for out of general taxation rather than any "pot". I'd argue that there should indeed be a pot, or Sovereign Wealth Fund, or whatever you want to call it, where people's pension contributions are paid. Get this money out there earning and growing rather than just disappearing into the abyss.
If the average worker's NI contributions (both theirs and their employers) had been paid into an average pension fund between 1980 & 2020 instead of just going into Government funds they'd have a pot of easily over £500k, potentially much higher. So that's a pension significantly higher than the current SP, and also one that the Govt doesn't have to fund. |  |
| Pain or damage don't end the world. Or despair, or f*cking beatings. The world ends when you're dead. Until then, you got more punishment in store. Stand it like a man... and give some back. |
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| Has Burnham focussed yet on the National debt? on 18:05 - Sep 23 with 154 views | Gwyn737 |
| Has Burnham focussed yet on the National debt? on 17:54 - Sep 23 by raynor94 |
Sorry but what a load of waffle yes my pension has grown but so has my tax bill you are aiming your ire at the the wrong group benefit claimants who have never worked including many youngsters who have no intention of working would be a better target
I worked hard in heavy industry from the day I left school for 42 years so i think ive paid my dues |
It’s not ire.
It’s circumstance.
It’s nor any age groups fault and I feel sorry for pensioners that are struggling and there are many awful stories.
The fact remains the richest age group overall in the UK today are pensioners. Add to this if you’re 25 you have quite a few disadvantages to this who were that age even 30 years ago, | | | |
| Has Burnham focussed yet on the National debt? on 18:06 - Sep 23 with 153 views | Gwyn737 |
| Has Burnham focussed yet on the National debt? on 17:58 - Sep 23 by Dr_Winston |
Agree completely with this. The messaging around Pensions should have been changed decades ago, but Governments have all been scared to.
It is a benefit. Paid for out of general taxation rather than any "pot". I'd argue that there should indeed be a pot, or Sovereign Wealth Fund, or whatever you want to call it, where people's pension contributions are paid. Get this money out there earning and growing rather than just disappearing into the abyss.
If the average worker's NI contributions (both theirs and their employers) had been paid into an average pension fund between 1980 & 2020 instead of just going into Government funds they'd have a pot of easily over £500k, potentially much higher. So that's a pension significantly higher than the current SP, and also one that the Govt doesn't have to fund. |
You’ve called it a benefit. Look out 😉 | | | |
| Has Burnham focussed yet on the National debt? on 18:07 - Sep 23 with 151 views | Dr_Winston |
| Has Burnham focussed yet on the National debt? on 18:06 - Sep 23 by Gwyn737 |
You’ve called it a benefit. Look out 😉 |
Wait until I start calling for it to be means tested like the Australians do.  | |
| Pain or damage don't end the world. Or despair, or f*cking beatings. The world ends when you're dead. Until then, you got more punishment in store. Stand it like a man... and give some back. |
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| Has Burnham focussed yet on the National debt? on 18:15 - Sep 23 with 140 views | Gwyn737 |
| Has Burnham focussed yet on the National debt? on 18:07 - Sep 23 by Dr_Winston |
Wait until I start calling for it to be means tested like the Australians do. |
I agree (but don’t tell anyone). | | | |
| Has Burnham focussed yet on the National debt? on 18:17 - Sep 23 with 139 views | Whiterockin |
| Has Burnham focussed yet on the National debt? on 17:40 - Sep 23 by Gwyn737 |
Both were very poorly executed.
Doesn’t mean we shouldn’t look forward and do better. [Post edited 23 Sep 18:01]
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When you started your profession you had an agreed pension, OK it has been tweaked slightly. Imagine if in next months budget you were told that you would need to work 5 years more for the full pension and there were no guaranteed annual increments. | | | |
| Has Burnham focussed yet on the National debt? on 18:21 - Sep 23 with 132 views | Dr_Winston |
| Has Burnham focussed yet on the National debt? on 18:15 - Sep 23 by Gwyn737 |
I agree (but don’t tell anyone). |
We have to accept as a Society that the Government can't fund everything. It shouldn't even try. People should be encouraged to have private pensions, private healthcare, private education. Offer them tax incentives to do so. I guarantee that it would save the taxpayer money in the long term.
Only thing that the Government should be providing is services that can't really be done so privately (legal/judicial system, defence, Emergency) and for those who can't afford private, which would still be most people but hopefully a lot less.
And the welfare system needs to be absolutely gutted. Torn back to the bricks and rebuilt because it's growing exponentially and nobody has the stones to put it right. | |
| Pain or damage don't end the world. Or despair, or f*cking beatings. The world ends when you're dead. Until then, you got more punishment in store. Stand it like a man... and give some back. |
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| Has Burnham focussed yet on the National debt? on 18:22 - Sep 23 with 131 views | Dr_Winston |
| Has Burnham focussed yet on the National debt? on 18:17 - Sep 23 by Whiterockin |
When you started your profession you had an agreed pension, OK it has been tweaked slightly. Imagine if in next months budget you were told that you would need to work 5 years more for the full pension and there were no guaranteed annual increments. |
I've already been told that I've got to wait longer for my work pension now than I did when I started. Wouldn't bet against it moving again by the time I get there.
When I started work the SP age was 65. Now it's 68. By the time I get there it will probably be 70. It is what it is. [Post edited 23 Sep 18:37]
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| Pain or damage don't end the world. Or despair, or f*cking beatings. The world ends when you're dead. Until then, you got more punishment in store. Stand it like a man... and give some back. |
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| Has Burnham focussed yet on the National debt? on 18:28 - Sep 23 with 120 views | Gwyn737 |
| Has Burnham focussed yet on the National debt? on 18:17 - Sep 23 by Whiterockin |
When you started your profession you had an agreed pension, OK it has been tweaked slightly. Imagine if in next months budget you were told that you would need to work 5 years more for the full pension and there were no guaranteed annual increments. |
My pension was changed from final salary to career average in 2015. My state pension age is now 68.
I think there’s a difference between no annual increments and realigning the triple lock which is way over the working person wage increase rate. [Post edited 23 Sep 18:29]
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| Has Burnham focussed yet on the National debt? on 18:31 - Sep 23 with 112 views | raynor94 |
| Has Burnham focussed yet on the National debt? on 18:05 - Sep 23 by Gwyn737 |
It’s not ire.
It’s circumstance.
It’s nor any age groups fault and I feel sorry for pensioners that are struggling and there are many awful stories.
The fact remains the richest age group overall in the UK today are pensioners. Add to this if you’re 25 you have quite a few disadvantages to this who were that age even 30 years ago, |
I retired 10 years ago the year before the new pension came in so I'm already 3k a year down with that gap increasing year on year.
And yes I do have a private pension which every youngster should contribute too personally I'd make it mandatory | |
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| Has Burnham focussed yet on the National debt? on 18:58 - Sep 23 with 79 views | trampie |
Public sector pensions are unaffordable, teachers, police, doctors, top civil servants etc their pensions need to be drastically reduced, the taxpayer can't afford to keep subsidising them. | |
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| Has Burnham focussed yet on the National debt? on 19:06 - Sep 23 with 75 views | trampie |
| Has Burnham focussed yet on the National debt? on 18:28 - Sep 23 by Gwyn737 |
My pension was changed from final salary to career average in 2015. My state pension age is now 68.
I think there’s a difference between no annual increments and realigning the triple lock which is way over the working person wage increase rate. [Post edited 23 Sep 18:29]
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It's over the working person's increase to try and bring them up to some sort of pro rata parity. | |
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| Has Burnham focussed yet on the National debt? on 19:13 - Sep 23 with 73 views | max936 |
| Has Burnham focussed yet on the National debt? on 17:09 - Sep 23 by raynor94 |
Brilliant post after 10 years of retirement I'm still being taxed so perhaps I'm still contributing to my pension just like all these youngsters |
We were never young and paying into the system see Rayns, 
This lot today call us boomers whatever TF means, I started work and paying into the system at 16 and here I am at 65 still working and paying into the same system.
Yeah we don't deserve a penny |  | | |
| Has Burnham focussed yet on the National debt? on 19:17 - Sep 23 with 68 views | max936 |
| Has Burnham focussed yet on the National debt? on 18:21 - Sep 23 by Dr_Winston |
We have to accept as a Society that the Government can't fund everything. It shouldn't even try. People should be encouraged to have private pensions, private healthcare, private education. Offer them tax incentives to do so. I guarantee that it would save the taxpayer money in the long term.
Only thing that the Government should be providing is services that can't really be done so privately (legal/judicial system, defence, Emergency) and for those who can't afford private, which would still be most people but hopefully a lot less.
And the welfare system needs to be absolutely gutted. Torn back to the bricks and rebuilt because it's growing exponentially and nobody has the stones to put it right. |
I read that 1 in 5 claim benefits, its disgusting and incredible that's its come to this.  | | | |
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