18/04/2005
Conservatives attack Labour over pensions
The Conservatives have announced a £1.7 billion tax cutting package, which they claim will help tackle Britain’s “pensions time-bomb”.
The Conservatives accused Chancellor Gordon Brown of carrying out a £5 billion a year "raid" on pension funds and said that the spread of means testing had “damaged” pensions and savings.
The Conservatives pledged to encourage people to save towards their pensions by adding £10 to every £100 saved towards a personal “pension pot”.
The party claims that the scheme will mean that a person on average earnings could boost their pension by up to £500 a year.
Announcing the proposals, Conservative leader Michael Howard said: “When I meet people, they often say to me ‘too many politicians are interested in the short term – tomorrow and next week, rather than ten years time. Today, we’re announcing a detailed, carefully considered and fully costed proposal to repay the long-term damage done by Mr Brown’s pension tax.”
He added: “Only by encouraging more people to save can we ease their anxieties about their long-term security and give our economy a brighter, better future.”
The Liberal Democrats criticised the proposals. Pensions spokepserson Steve Webb said: "For the last year, the Tories have been promising that for every £100 an individual puts in, the government will match it. Now all they are offering is £10 for every £100. The Liberal Democrats believe that scrapping means testing is a much better way of encouraging people to save for their retirement."
(KMcA/GB)
The Conservatives accused Chancellor Gordon Brown of carrying out a £5 billion a year "raid" on pension funds and said that the spread of means testing had “damaged” pensions and savings.
The Conservatives pledged to encourage people to save towards their pensions by adding £10 to every £100 saved towards a personal “pension pot”.
The party claims that the scheme will mean that a person on average earnings could boost their pension by up to £500 a year.
Announcing the proposals, Conservative leader Michael Howard said: “When I meet people, they often say to me ‘too many politicians are interested in the short term – tomorrow and next week, rather than ten years time. Today, we’re announcing a detailed, carefully considered and fully costed proposal to repay the long-term damage done by Mr Brown’s pension tax.”
He added: “Only by encouraging more people to save can we ease their anxieties about their long-term security and give our economy a brighter, better future.”
The Liberal Democrats criticised the proposals. Pensions spokepserson Steve Webb said: "For the last year, the Tories have been promising that for every £100 an individual puts in, the government will match it. Now all they are offering is £10 for every £100. The Liberal Democrats believe that scrapping means testing is a much better way of encouraging people to save for their retirement."
(KMcA/GB)
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20 June 2005
Pensions coalition calls for ‘fair deal’
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Pensions coalition calls for ‘fair deal’
A new coalition is calling on the new government to deliver a new ‘fair deal’ on pensions. Four organisations – the Trades Union Congress (TUC), Age Concern, Help the Aged and consumer watchdog Which? – have joined together to form the People’s Pensions Coalition to campaign for fair pensions reform.
11 June 2004
Changes needed to alleviate 'pensions crisis', says TUC
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07 September 2004
Pensions Secretary quits government
The Work and Pensions Secretary Andrew Smith has resigned from the Cabinet, saying he quit in order to commit more time to his constituency and spend more time with his family.
Pensions Secretary quits government
The Work and Pensions Secretary Andrew Smith has resigned from the Cabinet, saying he quit in order to commit more time to his constituency and spend more time with his family.