I have complete understanding why some hardworking public sector workers took strike action yesterday given the difficult economic climate.
I have met a number of them in my MPs surgeries, and I believe that negotiations should continue.
I welcome the fact that the Government has listened to representations from meand others.
1. Public sector pensions will remain among the very best available – a guaranteed level and inflation proofed. Only 1 in 10 private sector workers have access to such schemes.
I have met a number of them in my MPs surgeries, and I believe that negotiations should continue.
I welcome the fact that the Government has listened to representations from meand others.
1. Public sector pensions will remain among the very best available – a guaranteed level and inflation proofed. Only 1 in 10 private sector workers have access to such schemes.
2. Most will see no reduction in the pension income they receive at retirement and many low and middle income earners will in fact receive a larger pension income at retirement.
3. Low earners making under £15,000 a year (FTE) - that’s 15 per cent of the workforce - will not have to make increased contributions. Another million workers earning up to £21,000 will have their total increase limited to 1.5 per cent over three years.
This has been welcomed by former Labour Pensions Minister Lord Hutton as the best deal possible.
We have to face the difficult fact that to be fair to all taxpayers - and many low-paid private sector workers have no pension at all – the Government has introduced a permanent bank levy.
This tax will generate £2 billion - £3 billion a year, to ensure that the rich pay their fair share.
We have to face the difficult fact that to be fair to all taxpayers - and many low-paid private sector workers have no pension at all – the Government has introduced a permanent bank levy.
This tax will generate £2 billion - £3 billion a year, to ensure that the rich pay their fair share.
