Scottish pensioners hammered by Tory cuts and broken promises

Scottish pensioners to lose £2600 amid 'hammering' from Tory Budget
Image: The National
From SNP Media:

The SNP has said Scottish pensioners are being hammered by Tory cuts and broken promises – as new analysis shows pensioners will be £2,600 worse off on average because Rishi Sunak scrapped the Triple Lock on state pensions at the UK Budget.

Analysis from former UK Pensions Minister Sir Steve Webb shows pensioners will lose £520 next year, and a cumulative £2600 over the next five years, as a result of the decision to scrap the Triple Lock. With the OBR forecasting inflation will rise by over 4%, it means millions of pensioners could end up with a real terms cut in their state pension next year.

The UK Budget also failed to reverse the Tory decision to scrap the free TV licence for over 75s and failed to deliver any increase to key social security payments for pensioners, including the winter fuel payment, cold weather payment and the warm homes discount. Ian Browne, a retirement planning expert at Quilter, described this as “a huge blow to millions across the UK”. 

In March, the UK government’s Households Below Average Income (HBAI) statistics revealed UK pensioner poverty levels have risen to a 15 year high – with 2.1million UK pensioners (18%) now living in poverty after housing costs, an increase of 200,000 on 2018/19.

Separate analysis from the House of Commons Library, in June, revealed UK pensions are the least generous in north west Europe by comparison to the average wage. UK pensioners currently receive around a quarter (28%) of the average working wage. In stark contrast, pensioners in Luxembourg and Austria receive 90%.

Commenting, SNP Pensions spokesperson Amy Callaghan MP said:

“After a decade of Tory austerity cuts, millions of older people are now living in poverty and the UK has one of the worst state pensions in the developed world.

“It beggars belief that, instead of tackling this Tory poverty crisis, the Chancellor is making it even worse by scrapping the Triple Lock and freezing benefits older people depend on.

“By choosing to make these damaging cuts, the Tory government has taken hundreds of pounds away from Scottish pensioners and will leave many struggling to get by.

“The Tories should be ashamed that pensioner poverty is at a 15 year high on their watch. It’s increasingly clear that the only way to keep Scotland safe from these Tory cuts is to become an independent country, with the full powers needed to protect pensioners and tackle poverty.”


‘Budget: Pensioners to lose £2,600 as triple lock halted for year’ – https://www.thetimes.co.uk/article/budget-pensioners-to-lose-2-600-as-triple-lock-halted-for-year-qj5nm5669

UK state pension ‘falling behind’ neighbouring countries, warns SNP –https://www.dailyrecord.co.uk/news/politics/uk-state-pension-falling-behind-24457391

‘Households below average income (HBAI) statistics’ –https://www.gov.uk/government/collections/households-below-average-income-hbai–2
 
‘Age UK responds to new Government HBAI pensioner poverty figures’ – https://www.ageuk.org.uk/latest-press/articles/2021/age-uk-responds-to-new-government-pensioner-poverty-figures/#_ftn1

 

3 thoughts on “Scottish pensioners hammered by Tory cuts and broken promises

  1. ALL OF THESE SCANDALOUS REDUCTIONS FOR SENIORS SHOULD BE BLASTED ALL OVER SOCIAL MEDIA
    only avenue for SCOTS as all media are LYING TO OUR MOST SENIOR CITIZENS THE CERY PEOPLE WHO CREATED THIS COUNTRIES WEALTH

    UNGRATEFUL TORIES Oh an labour

    Liked by 1 person

    1. Does not surprise me. In my case, by moving the retirement age from 65 to 66, the Tory government saved The Treasury several thousand pounds from November 2019 to November 2020.

      Like

  2. Listen to all the so called experts on inflation they all getting it tragically wrong
    Even Sunak and Bank of England who believe it will surge for a short period
    Then by interest rate rise will quickly reign it in
    Oh no it won’t
    Why
    1.Large oil and gas explorers are now finding it very hard if not impossible to raise capital on the global markets to fund new drilling
    2.All the large banks and pension funds
    Know the game is up with regards fossil fuel investments and suicidal for them to fund it
    3.The largest producers with vast reserves also know this
    And already having reduced production
    Are in no hurry to increase production
    4.Given all above oil and gas prices are on a unstoppable trajectory now
    No longer about finding new resources but the size of reserves you currently hold
    5.The one sure fire way to stoke the flames of inflation is oil and gas increased demand upon existing available supplies
    6.Expect oil very soon to break $ 100/ barrel and keep on rising
    7.Gas rising even more
    8.Like it or not The World is addicted totally to oil & gas
    And the transition requires years
    9.There is enough energy in 1 barrel of oil
    To do the equivalent of a full 8 hour work shift for 2800 men
    1 thimble of oil can propel 1000Kg a 1000 Metres with the energy it contains
    Fully expect the UK to make a complete bollocks of this scenario
    And Norway to act very sensibly both for their Sovereign oil fund and a proper transition to renewables
    Independence is becoming ever more urgent as each day passes
    A fool can work all this out

    Liked by 2 people

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