I suppose the first was the latest
scam scheme for workers to self fund their sick pay.
By paying money into an account to cover any eventuality of time off work, it would save the government mi££ions as sick payments would not come out of National Insurance Contributions.
What wasn’t clear was who would manage the relevant account:
the Worker, the Company or some Government Agency specially appointed for the job.
You can also bet your last buck that should the worker leave the company, his sick fund would not be transferable or refundable.
Bear in mind the last time the Government came up with a scheme for workers Self Funding (read Pension Plans), these accounts were raided by the Government of the time due to a loop hole and individual members of Joe Public lost thousands.
The Government have now changed the rules so that the people can take their pension pots in part or their entirety and do with the money as they please.
Isn’t that nice of them.
Yeah, until you read that should you take all of it, 75% of the pot will be subject to tax (probably at the higher rate too) as it’s classed as earnings, never mind that it’s your own money. Put it into an investment account of your own choosing and not only are you taxed on the capital, but also the interest it attracts.
Also, should you opt for taking the lot, spend all your dosh and have nothing left for your retirement years, be careful, the Government could turn round and say ‘tough’ and give you no State Pension. Already they are extending the age to qualify, so who’s to say there will be such a thing as a State Pension in 20 odd years?
So what do they suggest?
See a Financial Advisor…………. who will sting you for their services as they probably advise you to keep your money in the Pension Plan anyway and take your chances.
Damned if you do, damned if you don’t.
Now there is the subject of
Grease Greece, that slippery country allowed to borrow to the hilt without the remotest chance of paying anything back and never will.
Deadlines come and go, so the EU Leaders
redesign redefine the contract, allow them to borrow more to include (supposedly) paying back some of what is owed, and the cycle starts again.
If this kind of merry-go-round related to an individual, they would be taken down to the bankruptcy courts post-haste, every asset seized, black listed for future financial borrowings and handed a menial sum to live on once a week as determined by the court.
The Greek people said No in their referendum for the proposed austerity measures, having already been bled dry by those in power (the fact that their leader does not wear a tie does not mean he can’t afford one). It didn’t matter. The deal has been struck, more money has been borrowed, and more hardship and despair for the Greek citizens will follow.
Our own Government has insisted that UK tax payers money will not be used to finance Greece.
A loan is still a loan by any other name, even if funds are deposited into an account that doesn’t bear the word ‘loan’ on it. EU bankers are rubbing their hands in glee as millions of British pounds are provided as a guarantee should Greece default on its debt.
Mr Cameron stated that there was no chance that this money would be used in a Greece bail out.
Wake up Sir and smell the roses (or bullshit if you prefer). Georgie Boy has already signed the cheque. The payee has just been left blank.
Meanwhile with our own austerity measures and proposed welfare cuts, MPs have just given themselves a 10% pay rise.
Forget the unemployed (young, old or incapacitated), elderly, disabled, low paid and hard-working single parents losing their benefits. No matter that our nurses are working flat out to earn a living wage, our Armed Forces are being diminished or that our emergency services and NHS are going to the dogs.
What a joke that they are thinking of bringing in a text facility for our 999 service! The argument was that someone would not be misunderstood if they couldn’t get their words out or were suffering a stroke. Honest, that is what the interviewee on the radio said. Hello???? How the hell would someone in that state be able to dial a number, let alone text a message and then have to wait for a reply! Jeez. And these people are in charge????
On (perhaps) a lighter note, a headline in the media last week announced proposals of a 20% tax on sugary drinks to help address the UK obesity issue. In fact, the US is waging war on soda drinks, blaming them for medical issues such as diabetes, heart disease, some cancers and weight problems.
This will open the doors for the UK Government to tax all food as in other countries, after all, is it not easier to tax everything than just an item or two?
If you’re earning big money a few extra pounds on your food bill won’t really be noticed. Supermarkets have been conning us for years with less weight for more money anyway.
But, if you’re on a limited income, then just a £5 a week increase will be difficult to cover and you end up either buying less or a poorer quality substitute.
Which brings me back to my first topic, sick pay.
If we don’t look after ourselves, our health suffers.
If we can’t earn a decent wage to be able to afford a decent diet, how can we be expected to contribute to a personal sick fund?