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Don’t scrap winter fuel payment this year – Tax it, Don’t Axe it – there are better, fairer ways to save money

August 7, 2024 Ros Altmann Comments 4 comments

TAX IT, DON’T AXE IT – ALTERNATIVE POLICIES FOR PENSIONERS’ WINTER FUEL PAYMENT. Three alternative policies to consider: Roll the payment into State Pension and tax it. Increase the £13 a year over 80’s Age Addition to £313 a year and recoup some in tax. Only take it away from higher rate tax pensioners, similar to Child Benefit restriction. At least keep it for this year to give pensioners time to prepare: The shock announcement that pensioners’ Winter…

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Axing winter fuel payments makes a mockery of promising to protect the triple lock – it’s a 2.5% – 3% cut in State Pension!

July 30, 2024 Ros Altmann Comments 20 comments

Axing Winter Fuel Payments is worse than scrapping the triple lock – it’s a 3% cut in Basic State Pension – this should be rethought. Pensioners were already losing the cost of living bonus, removing Winter Fuel Payments so suddenly, as energy bills may start rising again, is a double blow. Relying on means-testing creates a cruel cliff-edge that leaves low income pensioners just above the threshold, thousands of pounds a year worse off. Worse than losing the triple lock…

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Bank of England should cut rates now. Real rates remain too high and policy acts with long lags

May 22, 2024 Ros Altmann Comments 1 comment

Bank Of England should cut rates now they are too high. Real rates are too high and keeping policy tight on top of QT will stifle growth. Monetary policy acts with 12-18 month lag and real rates need to fall to support economic recovery . The announcement of today’s 2.3% CPI figure is yet more evidence of the need for interest rates to come down sooner rather than later. Current inflation numbers should not be the yardstick used by a…

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The loss of the Rt. Hon. Frank Field MP – a man of honour and integrity

April 24, 2024 Ros Altmann Comments 4 comments

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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Millions more pensioners paying tax

April 2, 2024 Ros Altmann Comments 7 comments

Number of pensioners liable for tax will double since 2010 from 4.5million to over 9million. Worrying figures suggest cost-of-living rises and frozen tax thresholds will drag millions more pensioners into tax net. As the new State Pension climbs above 90% of the personal tax threshold, more pensioners may be hit with tax penalties. Government must recognise distress this will cause to more pensioners and consider addressing this by proper liaison between DWP and HMRC to work out any tax, notify…

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Parliamentary Ombudsman asks Parliament to recommend remedy for WASPI women

March 21, 2024 Ros Altmann Comments 1 comment

Parliamentary Ombudsman asks Parliament to recommend remedy for WASPI women. He does not believe the DWP will accept his recommendations and challenges Parliament to urgently address the issue. Report calls for DWP to finally acknowledge and apologise for its manifest failings. And set up a scheme for recompense urgently, especially to help those clearly suffering hardship. The Parliamentary Ombudsman’s long-awaited report into Government handling of increases in women’s State Pension age is finally out. It is damning. It highlights clear…

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Thoughts and comments on today’s Budget

March 6, 2024 Ros Altmann Comments 4 comments

Budget 2024 – some good news for British workers, companies and markets. British ISA to direct an extra £5,000 ISA allowance for investing in UK equities – we mustn’t let this be derailed by consultation. And good to see that the Chancellor wants to drive more pension money to support UK companies and growth too. This was a difficult Budget and I really hope it provides the kind of boost for growth that Britain really needs, both now and for…

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Budget – pensions and ISA tax incentivised investments can help Chancellor cut taxes while boosting growth and reviving UK stock markets

March 4, 2024 Ros Altmann Comments 3 comments

Pension funds and ISAs can help the Chancellor out of his fiscal hole by investing more in Britain to revive British long-term growth, infrastructure and housing supply. Pensions and ISAs have abandoned UK equity markets – restoring domestic investor support should be a Budget priority. 25% of new pension contributions to be invested in UK assets and Mansion House reforms expanded to cover listed and unlisted UK companies. A £10,000 Great British ISA. Investors can still put their money overseas…

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Important House of Lords debate on saving Investment Trusts from further damage

February 29, 2024 Ros Altmann Comments 0 Comment

HOUSE OF LORDS WILL DEBATE LEGISLATION TO SAVE UK INVESTMENT COMPANIES AS INVESTMENT TRUSTS HIT BY NEW WAVES OF SELLING. Second Reading of Private Members’ Bill tomorrow has cross-party support and could offer quickest legislative route to revitalize sector and stop further damage. Chancellor wanted urgent change but Regulators have failed to deliver so Parliament is being asked to take back control as quickly as possible. Summary of Main Points: Tomorrow, 1st March, House of Lords will debate important…

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Time for Ministers to intervene on Investment Trusts, as FCA has failed to achieve change

February 19, 2024 Ros Altmann Comments 2 comments

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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From Ros Altmann:economist and pensions,
investment and retirement policy expert