I mentioned in my blog posting last night that when Shadow Cabinet Minister Theresa Villiers MP, visits Harlow this morning, she will also be making a major announcement on Savings on behalf of David Cameron and the Conservative Shadow Cabinet. If you click on the weblink below, it will give you further details:
Conservative Press Release on Savings
This is good news. It seems so wrong that those who saved all their lives are now seeing their investment vanishing - because of Gordon Brown's mismanagement of the economy and drowning the country in debt.
Pensioners, many of whom rely on a bit of interest from the meagre savings they have to pay their ever rising bills, are suffering badly in this recession.
ReplyDeleteMany private sector workers now approach retirement age with dread and the almost certain knowledge that they will be forced to continue working during their so called retirement to makes ends meet.
Few of us have any confidence left in the banks or this spendaholic government, which now resorts to printing money to pay its vast debts.
What sort of country have we become when hard working people with small amounts of savings worry about whether or not it's safe to keep these in our banks?
David Cameron's policy of exempting basic rate pensioners from tax on savings is a good one, however, many hard working pensioners would like him to exempt them too.
A single pensioner I work with has very little savings, yet she has a K tax code because she has a small occupational pension plus her state pension. The money added to her salary for the K code (to tax her occupational pension) puts her in the top tax band. It cannot be right for an ordinary 68 year old woman who claims no benefits and who has worked hard all of her life to pay such a high rate of tax.