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Don't get old in Armenia is the takeaway from that!
Do you want to discuss boring politics? (69 Viewers)
- Thread starter mrtrench
- Start date
chiefdave
Well-Known Member
On the flip side, my ex worked for the NHS. They paid her fees to go to Uni for 3 years, she continued to get her salary and they had to pay for someone to cover her for 3 years.
There was absolutely nothing in place to say she had to work a single day for NHS after completing the degree.
MalcSB
Well-Known Member
At least they will find it difficult to do anything about the two child benefit cap. Won’t be able to blame the unfounded cost pressures on the Tories.
MalcSB
Well-Known Member
I wonder why pensions are so many multiples of cost of living in Luxembourg? EU?
fernandopartridge
Well-Known Member
Because the Luxembourg government chooses to pay pensions that highly is the only reason, it's state pension so nothing to do with the EU.
The UK government chooses not to pay pensions and instead chooses to spend a lot more money treating ailments associated with poor health and poor standards of living for some old people.
It chooses to give some old people the illusion of wealth through property inflation rather than actual money.
fernandopartridge
Well-Known Member
Also, think average salaries in Luxembourg are quite high. Whether that's down to lots of EU associated work I don't know.
I think it’s a bit more complex than that. I’m not sure about luxumborg specifically but with other nations employees and/or employers are required to pay more into the state pension pot over the employees working life. This would impact their take home pay during their career
We now have compulsory private pensions with companies having to pay in set amounts and contributions matched (this amount should be rolled into the state pension comparison really as it’s compulsory). I believe our standard company pensions are higher than some and also don’t know what countries tax reliefs are on employee contributions. we also know public sector workers have excellent private pensions
How Much is the UK State Pension Compared? | Profile Pensions
The UK state pension gives valuable peace of mind that regardless of any other pension arrangements. But how much is it when compared to the rest of the world?
www.profilepensions.co.uk
an example…
‘Pre-tax rates for the full pension in Spain are more than 81% of the gross annual salary, the highest rate in Europe. Pensions are funded by contributions from both employees (4.7% of salary) and employers (23.6% of a worker’s salary). Self-employed people must pay all of their contributions’
I’m not saying ours are great but comparisons are not always like for like and everything needs to be taken in the round. As you say many pensioners have built up value in their property rather than maybe paying into a pension, the equity of which can be released later in life
MalcSB
Well-Known Member
Interesting comparison with Spain. NHS pension contributions by employees is 5.2% to 12.5% and employers is 23.7%. Certainly don’t receive anything approaching 81% of gross annual salary.I think it’s a bit more complex than that. I’m not sure about luxumborg specifically but with other nations employees and/or employers are required to pay more into the state pension pot over the employees working life. This would impact their take home pay during their career
We now have compulsory private pensions with companies having to pay in set amounts and contributions matched (this amount should be rolled into the state pension comparison really as it’s compulsory). I believe our standard company pensions are higher than some and also don’t know what countries tax reliefs are on employee contributions. we also know public sector workers have excellent private pensions
How Much is the UK State Pension Compared? | Profile Pensions
The UK state pension gives valuable peace of mind that regardless of any other pension arrangements. But how much is it when compared to the rest of the world?
an example…
‘Pre-tax rates for the full pension in Spain are more than 81% of the gross annual salary, the highest rate in Europe. Pensions are funded by contributions from both employees (4.7% of salary) and employers (23.6% of a worker’s salary). Self-employed people must pay all of their contributions’
I’m not saying ours are great but comparisons are not always like for like and everything needs to be taken in the round. As you say many pensioners have built up value in their property rather than maybe paying into a pension, the equity of which can be released later in life
I suppose you roll state pension and nhs pension together though to make a fairer comparison. I was just saying the structure of pensions, contributions etc appears different in every nation
MalcSB
Well-Known Member
If so, you would have to add NI contributions, employee and employer, to the numbers I quoted.
I thought it would be some one stole my light tonight. Didn't they!!
OffenhamSkyBlue
Well-Known Member
I think they mean "cut for the first time since Liz Truss's barking mad budget". It was rolling along nicely at less than 0.5% for years before that
Interest rates cut 'important moment', says Bank of England boss
The Bank of England cuts borrowing costs from 5.25% to 5% in the first drop for more than four years.
www.bbc.co.uk
I think they mean "cut for the first time since Liz Truss's barking mad budget". It was rolling along nicely at less than 0.5% for years before that
Interest rates cut 'important moment', says Bank of England boss
The Bank of England cuts borrowing costs from 5.25% to 5% in the first drop for more than four years.www.bbc.co.uk
That’s a bit unfair. She was one crazy lady but rates had already started to increase and were already at 2-2.25% when she became PM. They were subsequently raised due to continued inflation which was a global issue. Truss did probably cost the country billions due to a spike in government bond yields/borrowing costs caused by mini budget and subsequent ‘moron premium’ but Sunak and hunt settled this down. BoE rates really increased due to persistent inflation though.
Ps good news for people looking at new mortgages the 10 year which some
Lenders use as a bit of a steer on their mortgage rates is now down to 3.9%
chiefdave
Well-Known Member
It was only a matter of minutes from this being announced to the first article I saw that was 'of course this won't mean mortgage rates will come down'. Always the same with anything, quick to go up, slow to come back down.I think they mean "cut for the first time since Liz Truss's barking mad budget". It was rolling along nicely at less than 0.5% for years before that
Interest rates cut 'important moment', says Bank of England boss
The Bank of England cuts borrowing costs from 5.25% to 5% in the first drop for more than four years.www.bbc.co.uk
Mcbean
Well-Known Member
Savings rates on the other hand will come down today !
It will they already did in advance of to this, on New borrowing anyway!
chiefdave
Well-Known Member
Already had that email about my savings account!
chiefdave
Well-Known Member
This doesn't seem a great way to promote tech investment and push for growth
Government shelves £1.3bn UK tech and AI plans
The future of a number of major products - including a new UK supercomputer - are now in doubt.
www.bbc.co.uk
Brighton Sky Blue
Well-Known Member
This is what happens when bean counters are allowed to have too much influence.This doesn't seem a great way to promote tech investment and push for growth
Government shelves £1.3bn UK tech and AI plans
The future of a number of major products - including a new UK supercomputer - are now in doubt.www.bbc.co.uk
shmmeee
Well-Known Member
This doesn't seem a great way to promote tech investment and push for growth
Government shelves £1.3bn UK tech and AI plans
The future of a number of major products - including a new UK supercomputer - are now in doubt.www.bbc.co.uk
Yes and no, need to look at the details but Sunak got dazzled by a load of nonsense from tech founders on this so wouldn’t be surprised if there’s fat to cut. I think things like getting data centres built is more important, the area isn’t lacking in research funds and only about five big tech companies world wide have the scale to train leading edge models.
D
Deleted member 5849
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shmmeee
Well-Known Member
Brighton Sky Blue
Well-Known Member
Much more from 2010 onwards needs repealing than just that, but it’s a start. I do trust Rayner on this if she’s allowed free rein over it.
shmmeee
Well-Known Member
I do believe your prediction was they wouldn’t repeal anything. Agreed a good start.
skybluetony176
Well-Known Member
I was reading that the right to strike isn’t enshrined in UK law.
Ian1779
Well-Known Member
It got lost in everything else, but I meant to say that I’m no fan of Reeves as you know, but she had the good sense to recognise that not giving teachers the pay deal would be a lot more costly than doing so.
Brighton Sky Blue
Well-Known Member
The 2023 legislation is especially egregious, but there have been several rounds of anti union laws passed since 2010. As a minimum, all of these need to be repealed.
While the laws on striking are important though, it’s the ones on collective bargaining that should be looked at a lot more heavily.
shmmeee
Well-Known Member
Im not a fan, but this base level of competence it what you get from any Labour chancellor as they aren’t beholden to mental ideology.
Brighton Sky Blue
Well-Known Member
It also stands to reason that actually talking to unions and coming to the table with them leads to strike action getting sorted much sooner.
MalcSB
Well-Known Member
Very true. Capitulation sorts strike action out really quickly.
Train drivers next.
torchomatic
Well-Known Member
Coincidentally, the union I'm in is going to ballot us for strike action in the next few weeks.
fernandopartridge
Well-Known Member
It's hardly 'capitulation' to settle a long term dispute with a compromise, especially where the costs to everybody of the dispute continuing accumulate.
It's funny really, Tories agree with the idea of the market setting the price of goods and services until it's the labour market.
torchomatic
Well-Known Member
What you call capitulation, I would call negotiation.
MalcSB
Well-Known Member
What was the compromise with the junior doctors, for example? More productivity?
What will be the compromise with rail unions? Modernisation of working practices?