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INFLATION - Carers UK Forum

INFLATION

Discuss news stories and political issues that affect carers.
With inflation at 5.2% the welfare benefit bill will be raised by about 1.6 billion ..IAIN DUNCAN SMITH has not as yet received the 3 billion he asked for to support people on the back to work programme ..and as we write the rumour mill is off and running the treasury may ask I.D.S. to fund the 3 billion for the back to work from within no extra cash from the treasury..the treasury will or should fund the benefit rise due in May 2012 ..but how can he fund the back to work programme from ? the only way is to get more and more people off sickness/disability benefits the cash could then be spent on those who need help in getting back to work and the help they will get will be allowing them to retain their benefits when working ..what a shambles it all is ..
Government minister from treasury - i think - has just said the governent will honour the 5.2% benefit rise for all "pensioners" next year ..errr i hope this is a slip as we have more then pensioners claiming benefits ..he then said he was concerned for those who work and will not have their wages raised with inflation --trying to divide benfit claimants and workers, that is taxpayers and scroungers dont you know ..yet his own chancellor has frozen the wages of many public sector workers ....
Yes it is a complete shambles and hile everyone else suffers the people who caused the problem .....politicians and greddy bonus chasing bankers get off scot free Image
in tomorrows telegraph there are saying its wrong to give us that and that there should do a average over the previous 6 months.. what a joke.
Its just as well few of us have ever lived through hyper-inflation, you know, when prices change twice a day or more, and you need wheelbarrows to carry enough money to pay for a pound of spuds. I have a 5 million Mark note somewhere, and that explains how and why Hitler gained power.
I've been to Papua New Guinea, where whilst there is a currency, many people do business in pigs.
Broadly speaking, whilst money is a mess of course, it is probably quite sensible compared with all the alternatives.
By changing from the RPI to the CPI the government has already reduced the annual inflation-linked uprating because CPI normally is lower than the RPI, for example the CBI in September on which the uprating is based was 5.2%, the RPI was 5.6%, and this normally lower figure is expected to further reduce the incomes of those dependent on benefits and the SRP over time. Some of the press are also highlighting the discrepency between the benefits/SRP uprating and this year's average wage increase, 1.8%, whilst failing to mention that 5.2% of JSA, for example, which is £67.50, is substantially lower, around £5 per week lower, than an 1.8 % increase in the average wage and that those on low incomes obviously have less disposable income to begin with, most, if not all, of which is spent on essentials such as food, utilities and transport which have seen the highest inflationary rises.

The Telegraph article which Paul refers to is here:

http://www.telegraph.co.uk/finance/econ ... nfair.html

The Daily Mail also has the type of balanced report on the uprating which you come to expect from the DM Image :

http://www.dailymail.co.uk/news/article ... e-5-2.html
The Daily Mail headlines are always worth skipping, but sometimes the last paragraph contains a gem or two: I'm glad I dont have a Private Sector pension, because it isnt worth the paper it is written on:
Many pensioners have been big losers too, due to the crippling effect of high inflation on their fixed incomes.
Yesterday a report from insurance firm Standard Life said a 90-year-old man who retired at 60 in 1981 with a flat-rate pension of £10,000 a year had the ‘purchasing power’ of just £3,207 a year today.
His petrol, for example, would now cost about £1.34 a litre, compared with 35p a litre 30 years ago.
Rising life expectancy means that retirements last longer than ever before – but sadly millions do not have enough money to enjoy their longer lives.
The director-general of Saga, Dr Ros Altmann, yesterday warned that rampant inflation was ‘silently stealing older people’s assets’.


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