Pensions and inflation News release..

16.10.2000

‘PENSIONERS DESERVE A FAIR DEAL’ - Davey

INFLATION FIGURE WOULD MEAN 2.25 PENSION INCREASE, OR 7.25+ WITH LIB DEMS

Local Liberal Democrat Edward Davey MP, commenting on the publication of this year’s headline rate of inflation of 3.3% which would translate into a 2.25 rise in the basic state pension in April, said:

"Pensioners were insulted by Labour’s 75p rise this year. They will not be impressed with another inflation-linked increase next year. Two pounds 25p would not even buy a book of 1st class stamps.

"Gordon Brown must do better in the Pre-Budget Report - and far better that Tory pension plans. The Conservatives proposals mean just 42p extra for most pensioners. Moreover, for the one-in-three pensioners who pay tax, shifting money from tax-free benefits onto the pension would wipe out even these few pennies on offer.

"Pensioners will not be fooled by a pittance from the Tories or a pre-election bribe from Labour. The choice is clear - only the Liberal Democrats have consistently campaigned for a better basic state pension."

 

Notes

  • Local Lib Dem MP, Edward Davey, has recently uncovered new research which shows that the number of low income households across London has risen since the election. The figures were published in a report entitled, "Regional Social Exclusion Indicators", produced by the House of Commons Library. Applying the figures proportional to Kingston shows, the number of low income pensioners in the Borough increasing from 9000 to 9600.
  • When MPs voted on the 75p rise earlier this year, Labour defended it, the Conservatives abstained and the Liberal Democrats opposed it. Only the Liberal Democrats have consistently campaigned for a better basic state pension.
  • The ONS announced a headline rate of inflation (to which pensions and other contributory benefits are linked) of 3.3%. This translates into a rise of 2.25 in the basic state pension next April. (See website on http://www.statistics.gov.uk/pdfdir/cpi1000.pdf).
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