Business & Economy
How Labour can reform Britain’s pensions triple lock | Letters
Source: Business | The Guardian · Published
Readers offer solutions to the thorny problem facing the government, in response to an article by Gaby Hinsliff Gaby Hinsliff ( Britain needs cash and everyone knows we should break the pensions triple lock. Where is the courage?, 22 September ) is right that public policy should
Readers offer solutions to the thorny problem facing the government, in response to an article by Gaby Hinsliff Gaby Hinsliff ( Britain needs cash and everyone knows we should break the pensions triple lock. Where is the courage?, 22 September ) is right that public policy should not subsidise wealth without limit, but breaking the triple lock is a poor way to target affluent pensioners. Most pensioners are not affluent.
Indeed, a quarter of pensioners require benefits in addition to the state pension just to survive and keep a roof over their heads. If the aim is to stop subsidising wealth, a more direct target is the generous tax treatment of private pension savings. A taxpayer contributing £100 to a pension can receive £40 or £45 in tax relief if they pay higher- or additional-rate tax, compared with £20 for the basic rate.
Tax and national insurance contributions relief on private pensions costs the government a staggering £84bn a year . Continue reading...
Related stories
Purple reins: Philippine export ban casts shadow over UK’s love of ube
As Britain goes mad for yam, shortage of planting material and concerns over control of crop prompts sales halt In a corner of north London on a weekday morning, Filipino cuisine is thriving: diners at Mama & Sons in Kentish Town are making their choices, and one of the most popu
Business | The Guardian ·
Britain’s low-paid urged to sign up to savings scheme offering cash bonus
Government-backed help to save is aimed at working people on universal credit and pays 50p for every £1 saved over four years Amid claims that millions are missing out, the UK government is encouraging low earners to sign up to a savings scheme that offers free cash. Help to save
Business | The Guardian ·
OpenAI pauses training of its ‘most capable models’
As reports of OpenAI's models breaking containment , hacking sites, and generally getting out of control pile up, the company has made the decision to pause training of its most powerful models. The decision was made after a model being tested within a sandbox exploited a loophol
The Verge ·
Why this island paradise has the world's fastest-growing HIV epidemic
In mid-September, Fiji's government declared a national emergency because of a startling rise in HIV infections. The country's crystal meth epidemic is a strong contributing factor. (Image credit: Ian Cheibub for NPR)
NPR Topics: World ·
What are my children exposed to? Why I want testing for cancer-causing chemicals
People living near a lagoon branded "a shame on Britain" want to be tested for cancer-causing PCBs.
feeds.bbci.co.uk ·