tinker Posted October 11, 2022 VT Supporter Share Posted October 11, 2022 (edited) 10 minutes ago, ml1dch said: I wonder whether he's talking about this: I think that's relating to the investments made by private pensions to cover their liabilities to future and current pensioners. They are heavily invested in government bonds and as Truss has devalued them they are having to sell them to cover their liabilities. It's a catch 22, the more they sell the lower the value goes, hence the bank of England buying them to try and keep their value up. I'm referring to the state pension Second State Pension Age Review launches The next review of State Pension age has been launched by the government today. The review will consider whether the rules around pensionable age are appropriate, based on the latest life expectancy data and other evidence. The Pensions Act 2014 requires government to regularly review State Pension age, and in accordance with law, this latest Review must be published by 7 May 2023. https://www.gov.uk/government/news/second-state-pension-age-review-launches Edited October 11, 2022 by tinker Link to comment Share on other sites More sharing options...
sidcow Posted October 11, 2022 VT Supporter Share Posted October 11, 2022 2 hours ago, Xela said: I'm not even considering the state pension. I'll class it as a bonus if I get it when i'm 68. Yep, I contracted out of SERPS the second I could all those years ago because I didn't trust the bastards not to take it off me. I've had a private pension since I was 19 and I'll retire the second I can regardless of what they say. 2 Link to comment Share on other sites More sharing options...
TheAuthority Posted October 12, 2022 VT Supporter Share Posted October 12, 2022 8 hours ago, sidcow said: Yep, I contracted out of SERPS the second I could all those years ago because I didn't trust the bastards not to take it off me. I've had a private pension since I was 19 and I'll retire the second I can regardless of what they say. 1 2 Link to comment Share on other sites More sharing options...
Genie Posted October 12, 2022 Share Posted October 12, 2022 UK economy shrank 0.3% in August. Strap in here we go, it’s going to get bumpy. 1 Link to comment Share on other sites More sharing options...
ciggiesnbeer Posted October 12, 2022 Share Posted October 12, 2022 (edited) Bloody hell Liz Truss & Kwasi Kwarteng really have proven to be utterly incompetent. I think the Conservative party owes the country some kind of correction here. Whoever all the Tory powerbrokers are they need to start calling in favours. This is doing real damage to peoples futures including Conservative voters futures. She needs to undo everything but the energy bill subsidies and eat crow. Edited October 12, 2022 by ciggiesnbeer Link to comment Share on other sites More sharing options...
Chindie Posted October 12, 2022 VT Supporter Share Posted October 12, 2022 Hurray for venture capitalists. Link to comment Share on other sites More sharing options...
Xann Posted October 12, 2022 Share Posted October 12, 2022 The parasites are thriving in Tory Brexit Britain. Shame about the children of the mugged off. Link to comment Share on other sites More sharing options...
Xann Posted October 12, 2022 Share Posted October 12, 2022 This could have gone in the Brexit thread too. 1 Link to comment Share on other sites More sharing options...
PaulC Posted October 12, 2022 Share Posted October 12, 2022 So there will be no public spending cuts. Link to comment Share on other sites More sharing options...
AshVilla Posted October 12, 2022 Share Posted October 12, 2022 6 minutes ago, PaulC said: So there will be no public spending cuts. There is no need. All they need to do is shake the money tree instead. Link to comment Share on other sites More sharing options...
bickster Posted October 12, 2022 Moderator Share Posted October 12, 2022 What is currently happening is tantamount to a bloodless coup by economic illiterates No-one voted for this lunacy The only good that will come of this is the death of the Tory Party and the sooner that those elements within the party realise this, leave the Party, forming another, leaving Truss without a majority and help form a Unity Govt with all other parties to stabilise this mess the better. I think it's probably the only way to get rid of Truss / Kwarteng in time to save the country. I also think it's unlikely to happen. 1 Link to comment Share on other sites More sharing options...
bickster Posted October 12, 2022 Moderator Share Posted October 12, 2022 11 minutes ago, AshVilla said: All they need to do is shake the money tree instead. The Magic Money Tree is somewhat f***ed right now Link to comment Share on other sites More sharing options...
ml1dch Posted October 12, 2022 Share Posted October 12, 2022 6 minutes ago, bickster said: No-one voted for this lunacy Not this precise flavour. But in 2019 they voted for a bunch of stupid people promising to do some really stupid things that would damage the country. They can't really complain too loudly if the party they voted for then does some really stupid things that damage the country, even if there are now a few extra sprinkles and wafers on top of the horse manure sundae that they ordered. 4 Link to comment Share on other sites More sharing options...
Chindie Posted October 12, 2022 VT Supporter Share Posted October 12, 2022 1 hour ago, PaulC said: So there will be no public spending cuts. Link to comment Share on other sites More sharing options...
Genie Posted October 12, 2022 Share Posted October 12, 2022 Misleading the house… again. The investigation into the last one isn’t complete yet is it? Link to comment Share on other sites More sharing options...
Xann Posted October 12, 2022 Share Posted October 12, 2022 2 Link to comment Share on other sites More sharing options...
Genie Posted October 12, 2022 Share Posted October 12, 2022 Quote Jacob Rees-Mogg's claims recent economic turmoil is not linked to the mini-budget have been criticised. The business secretary said market volatility could be due to the Bank of England's failure to raise interest rates in line with the US. "It's much more to do with interest rates than it is do with a minor part of fiscal policy," he told the BBC. This guys ability to bare-face lie despite a world of views and information to the contrary is something to behold. link Link to comment Share on other sites More sharing options...
PaulC Posted October 12, 2022 Share Posted October 12, 2022 Truss, Rees-Mog, Therese Coffey who as deputy leader is clueless what is going on, and Kwarteng must be the worst cabinet inner circle ever. Link to comment Share on other sites More sharing options...
ender4 Posted October 12, 2022 Share Posted October 12, 2022 2 hours ago, Chindie said: 2 hours ago, Chindie said: Ohhh, so there will be spending cuts after all, she's just hiding it under the energy subsidy. Link to comment Share on other sites More sharing options...
Genie Posted October 12, 2022 Share Posted October 12, 2022 36 minutes ago, ender4 said: Ohhh, so there will be spending cuts after all, she's just hiding it under the energy subsidy. In fairness to her she did say “I’m genuinely unclear” twice. Link to comment Share on other sites More sharing options...
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