Monday, June 18, 2012

UK Government policy costing savers £18 Billion per year

Most of the daily papers in the UK are covering the data that has been released showing that Government policy of low interest rates and QE is costing those with savings (=older people) vast amounts of money.

How strange, whenever this government is talking about the perks given to older people that they fail to mention this huge tax that is being applied to the older generation.

From a business point of view the implications are that older people feel poorer (because they are) and fear they will be even poorer. There reaction, not surprisingly is to reduce their purchasing.

The naivety of this government, with its fixation on stopping bus passes and winter fuel allowances, whilst at the same time ruining the future of so many older people is staggering.

I think it is now common knowledge that Willetts, Duncan-Smith and Osborne hatched a policy before the last election to concentrate their taxation demands on the 50-plus.

The outcome of this vindictive policy has been stifle demand for products and service from the older age group. How could they not have seen this would happen? Dick Stroud

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