Cable Forum - View Single Post - Osborne's 'Pensioner bonds'

Ignitionnet · 16-01-2015, 15:23

Here's a really good blog that explains the subject:

http://stumblingandmumbling.typepad....ner-bonds.html

Wasting taxpayers' money doesn't sound much like conservatism to me, especially in light of Osborne spending the past 5 years banging on about austerity and waste.

Using taxpayers' money to buy votes from a certain client group, however, sounds like corruption to me?

Subsidising the savings rates of those who are able to invest £20,000 from general taxation also sounds like a transfer of wealth from the taxpayer in general to those who are on the wealthier end of the spectrum.

All in all a despicable policy hiding behind soundbites and the now very much disproven idea that all pensioners are on the brink of starving and/or freezing to death, despite their being the only group who have seen their incomes rise in real terms over the past 5 years, and being the only age-group besides the 55-64 age-group to see home ownership rates increase.

If this were open to everyone then, yeah, maybe. Still regressive but at least not as corrupt. If this were not in existence at all and the government stopped messing with interest rates on savings and borrowing via giving banks cheap cash so that they don't have to pay decent rates of interest on savings, awesome.

16-01-2015, 15:23	#1
Ignitionnet Inactive Join Date: Jun 2008 Location: Leeds, West Yorkshire Age: 47 Posts: 13,995	Osborne's 'Pensioner bonds' - bribing OAPs with everyone else's money Here's a really good blog that explains the subject: http://stumblingandmumbling.typepad....ner-bonds.html Wasting taxpayers' money doesn't sound much like conservatism to me, especially in light of Osborne spending the past 5 years banging on about austerity and waste. Using taxpayers' money to buy votes from a certain client group, however, sounds like corruption to me? Subsidising the savings rates of those who are able to invest £20,000 from general taxation also sounds like a transfer of wealth from the taxpayer in general to those who are on the wealthier end of the spectrum. All in all a despicable policy hiding behind soundbites and the now very much disproven idea that all pensioners are on the brink of starving and/or freezing to death, despite their being the only group who have seen their incomes rise in real terms over the past 5 years, and being the only age-group besides the 55-64 age-group to see home ownership rates increase. If this were open to everyone then, yeah, maybe. Still regressive but at least not as corrupt. If this were not in existence at all and the government stopped messing with interest rates on savings and borrowing via giving banks cheap cash so that they don't have to pay decent rates of interest on savings, awesome.