UK Treasury Warns of Imminent Pensionocalypse

31.05.2016 • Politics and War

From The Price of Everything (INDEPENDENT)-

JW: “..Someone like Neil Woodford, star investor, who set up his own fund; he says the fundamentals of the economy will be unmoved [by Brexit] either way..

RA: “Well I’m afraid that every, every serious economic forecaster would not agree with that..”

JW: “Are you saying he’s not serious ?”

RA: “Not for economic forecasts, clearly.”

JW: “He’s an investor on behalf of pensioners.”

RA: “I’m talking about every major economic forecaster. A weaker economy means lower wages, lower profits, lower dividends, lower investment returns and lower pension contributions as well as lower pension fund investments. This isn’t some kind of conspiracy, this is consensus here..

What do pensioners want more than anything else ? They want certainty.”

– BBC Radio 4 ‘Today’ presenter Justin Webb discussing Brexit pensionocalypse with Baroness Ros Altmann, 27 May 2016.

Carve-up, n. “An act or instance of dishonestly prearranging the result of a competition.” Just two hours before it was barred from issuing any more fatuous propaganda about Brexit, the UK Treasury last week managed to surpass themselves. They warned that if the UK left the EU, the hit to each individual British pensioner would amount to £137 per year. Those with an additional pension pot worth £60,000 would apparently be worse off to the tune of £1,900. (The “forecasts” arrived conveniently alongside news that net migration into the UK had risen to a third of a million people in 2015.)

-Read more at ThePriceOfEverything.typepad.com (English)-

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