Under a pension promise in the Conservative Party's 2019 election campaign, state pensions are meant to rise each year by the highest of the annual inflation rate, wage growth or 2.5%.
The Sunday Times said the finance ministry wanted to break the link between pensions and wages for a year. The Sunday Times said Sunak was worried too about a potential 5 billion pound annual cost for a plan on social care for the elderly due to be discussed later this week, plus extra for a new government yacht to promote British exports.
Asked about the report, a British government spokesperson said: "The Prime Minister and Chancellor work closely together, and have been in lockstep throughout the most challenging period any government has faced since the Second World War."Sunak said in a television interview on Wednesday that pensions would be reviewed later in the year.Britain's government borrowed 300 billion pounds last year - equivalent to 14% of gross domestic product and the most since World War Two.
Meanwhile U.K. Chancellor still supports U.K. Tax Havens where U.K. businesses and the wealthy get to hide money, and also supports U.K. Tax Avoidance Schemes
Yes, if they tax capital gains at 30%. Otherwise, inflation.
One of the lowest pensions in Europe getting even lower. Taking back control? ToryCriminals
Hard working salaried people should leave UK if they can. Taxes are so heavy. And you can’t escape it. A significant proportion of economy is underground and pay no taxes. Rich employ tax advisers who draft HMRC rules. Or organise to vote for people who will represent you.
Correct move.
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