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Today is the last opportunity for Parliament to protect the poorest pensioners who are at risk this winter. My Fatal Motion in the House of Lords to cancel the Winter Fuel Payments Statutory Instrument will be debated later today. It is the speed and timing of this measure, with no notice, no impact assessment and no mitigation or protection for the very poorest, that I am opposing, rather than the continued payments for wealthy pensioners, which I have long opposed. The SLSC has warned…

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REST IN PEACE DEAR FRANK FIELD – a hero of our time This is a small personal tribute to the wonderful and irreplaceable Frank Field. I am truly devastated at this tragic loss of a great man who it was a privilege to count as a personal friend of long-standing. Having visited him during his long illness, and having had the honour of working with him on various issues relating to social policy, pensions, taxation and welfare, it is hard…

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Emergency intervention to protect UK investment trusts from flawed Regulations could turbocharge UK markets and growth while boosting investor returns.   Ministers must no longer leave it to the FCA to keep dithering and consulting while their misleading rules destroy investor support on a false premise.  UK-listed investment trusts help democratise investing for retail and institutional investors in long-term, less liquid assets such as infrastructure, growth businesses and renewable energy.  Ministers must no longer leave it to the FCA to keep…

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The Chancellor should use the Autumn Statement to incentivise tax-favoured pension and ISA funds to back Britain.  British taxpayers are spending around £70 billion a year in tax and National Insurance reliefs but most is invested overseas instead of boosting British productivity and long-term growth. At least 25% of each pension fund originates from taxpayers – so Government has justification to ensure a minimum proportion of pension contributions supports our own markets. Introducing a Great British ISA for 2024, to…

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Chancellor could and should be much more ambitious for pension funds to boost Britain. Mansion House Compact is welcome as far as it goes – but is just the tip of the iceberg. Just 5% of funds helping start-ups and scale-ups from Defined Contribution schemes by 2030 and perhaps another 5% of assets from Local Authority pension schemes, seems rather unambitious. At least 25% of each pension fund originated from taxpayer reliefs – with tax and National Insurance reliefs costing…

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The £86,000 social care cap is more about protecting the wealthiest than fixing social care. £86,000 cap is not the maximum families will spend on care – they will have to spend well over £100,000 before reaching the cap. The new proposed cap will still take most of the assets from families in areas with lower property values, while helping the wealthiest families keep most of their assets.   The headline is that nobody will have to spend more than £86,000…

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Government plans to reform social care are a start, but nowhere near enough to address the scale and scope of the crisis. Stark unfairnesses remain, with inadequate funding for urgently needed staffing improvements (£500million is just £300 per person). There is inadequate funding for prevention measures. The main part of the reforms will help protect the assets of the wealthiest families, not those living in areas with lower property values. With the Health and Social Care Bill coming over to…

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As State Pension Age rises to 66 with economic meltdown boosting unemployment, there is a strong case to allow early access to State Pensions.  Many over-60s are unwell, genuinely unable to work, or are caring for others and have no private pension.  Healthy life expectancy across the country varies by around 20 years, so rising State Pension Age hits these least healthy hardest.  Those with long National Insurance records, poor health and no prospect of employment cannot receive any State Pension…

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