Labour doesn't understand maths nor finance!

[Kazzyhoward]

https://www.telegraph.co.uk/pensions-retirement/news/experts-ridicule-angela-rayners-pension-saving-sums/

Labour sums - apparently if you ignore inflation and investment growth then it will take 400 years for the average earner to benefit form the recent pension changes.

Good to see they have a sound grip on economics...or even mathematics.

Their solution is to expand the special class of people to whom normal pension tax rules do not apply - currently this group includes:

1. Judges
2. Kier Starmer

Rachel Reeves probably does to be fair.

They don’t it’s true. But then neither do the conservatives. There is something wrong where U.K. tax receipts have continued to rise over the years but in all departments budgets are being cut.

What concerns me about any gov is that people with no clue get their hands on everything.

The mp assigned to whatever should be forced to consult with a panel of experts including a good clutch of those in lowly roles on the ground. With anonymous feedback also offered.

Well the Conservatives either don't understand inflation or bank on the population not understanding it. So they're no better.

i.e. Inflation is a rate of change, so even if they did nothing then inflation should fall by 50%

When you get idiots like Bank of England's Huw Pill making out that it is ordinary people getting pay rises that are fuelling inflation, when actually people are buying less and less all the time, it makes you wonder who the fuck does understand finance and has any power.

The difference is that Labour will be slightly less likely to keep profits and wage increases confined to the few. Only slightly though.

There are ministers in the background who inform and advise. Many of those work alongside industry and sector heads. This is the case for all departments of government, for decisions from sinking enemy warships to changing the rate of VAT on vitamins. The extent to which those holding executive positions rise or fall often has a lot riding on where they get the info to make the decisions they do and how arrogant they are with it.

Good job the Tories have Truss and Kwarteng to sort the finances.

At least it’s not Diane Abbott doing the maths … 😂