Keir's first day....

[CurlewKate]

Looks pretty good to me! What are people's thoughts?

Pensioners with income above the tax threshold already pay income tax on any income above £12,570. I know this, because I have a small pension that adds about £3,500pa from my last employment, and pay tax on it. But, I also have a SIPP, started a long time ago when I was self employed and they were very new. The SIPP is not part of my estate, so not subject to IHT. Our DC has been a member since birth, and we will meet our current needs from our savings first. Only when they run out, will we take income from the SIPP. It's not lavish amounts of money, by the way. But it is a nest egg that we can protect to ensure our DC have some income to rely on in 40 years time. Who knows whether there will be a state pension then?

This. Spain, which is not Europe's wealthiest country (nor the one with the healthiest public finances) pays about €2500 per month and the average cost of living figure is roughly €650. Of course, it will come unstuck at some point. Many EU countries are living beyond their means. When that all unglues, and the EU fragments, then the UK will be congratulating itself that we are outside that car crash.

@CheltenhamLady "And I will be the first to eat humble pie if I'm better off under Labour."

You personally may not be. Neither might I. But that's not what I voted for.

Because they paid for it, even though it is the meanest lowest pension in Europe.

But single sex spaces MUST remain single sex, which means that biological men must be banned from accessing them. And actually I think you’ll find that the vast majority of women are very protective of our very few hard-won rights!

@fedupdontknowwheretoputmyself
its NOT 'a hand out' FFS.

its a system they paid into, on the understanding they'd get a state pension at the retirement age, which is now a lot later than they were told.

I think it's time to ban the phrase "hard won rights" from Mumsnet.

@TeenagersAngst

not really, they paid into the system, on the understanding they'd get a state pension.

its the principle of it.

@HeadNorth

Essy enough to bin a policy, but what is his SOLUTION to the boats??

Because they have paid into the system throughout their working lives and many of those with savings have amassed them by working bloody hard and being frugal in younger years rather than going out splurging. Another example of being penalised because you saved rather than frittered; beginning to wish I hadn't bothered saving and just led the high life instead

@AmelieTaylor I don't entirely disagree; but there are many wealthy pensioners who really don't need £12k a year. If we have to start cutting, it's not a horrid idea. Like I said, as long as the bar is set high enough I think people would accept it.

However, you'd need to give many years notice - 10? - to allow people to make new financial arrangements and Labour may not be in power by then so I don't know why they'd want to wade in when there would be no immediate financial benefit.

This is nonsense that is being propagated by the likes of GB News and is not part of Labour Party policy. Currently, anyone claiming state pension since 2016 receives £11,490 per year which is below the tax free allowance of £12,557 per year. However any income over and above this, from any source - work, private pensions, investments etc. is taxed at the standard rates, thus many pensioners will be paying tax. The current tax threshold will remain in place until 2028 and because all parties committed to The pension triple lock it is likely that more pensioners will be paying tax on their income every year between now and 2028.. This however doesn’t constitute any sort of means testing!

Well, Rwanda wasn’t a solution, it was pointless, expensive, gesture politics. Maybe we can now work more cooperatively with our neighbours in Europe on a solution instead of indulging the far right.

@TeenagersAngst , except that the people/pensioners that you deem not in need of the £12k state pension have actually paid 45 years worth of NICs to be eligible to receive it If I paid into a secondary pension on top of my NICs (which I did), then I am going to be incandescant with rage with a system that discounts the state pension I paid for alongside it.

And one of the terms of the Rwanda deal was that we also had to take refugees from Rwanda. They bit was always conveniently never mentioned.

@TeenagersAngst , you'd need to give people a lot more than 10 years notice too. Pension saving is a career long exercise. I have been putting money into my pension fund since I was 29. I could be very salty indeed if some politician decided to levy any form of taxation on my savings from my taxed income because stupid gits made zero provision for the future. I am not keen to stump up any money at all to fund people who failed to save anything.

@Papyrophile Im basing that on the WASPI women, not sure if there’s a statutory minimum

That wasn't posted by me!!

equisetum · Yesterday 21:38
Just watch and wait. All will become very clear.
And I will be the first to eat humble pie if I'm better off under Labour

I made the same point as you are making!!

@Themaghag its been reported by GB News but was broadcast by LBC. How is GB News propagating anything?

Labour Party policy is subject to change and update, we all know that.

Has the budget been announced?
No

So why are people still discussing it?

@cakeorwine because we want to?

Or are we only allowed to discuss things that you approve or / things that are rubber stamped Labour policy?

There's a thread about how conservative voters are more gracious in defeat than left wing voters. Honestly, the OP needs to read this thread and then go and have a lie down. The grapes are so, so sour.

I am a WASPI. My issue is the notion that one's private pension saving arrangements could be plundered at the will of any government because my 'pot' is tempting. Which is why it was saved behind a SIPP wall.

Neither did l.

I voted for better public services and a government that cared about its citizens rather than just its country.

I’m happy to pay more tax. And I’m not in a lot.