I hear David Willetts, the Executive Chair of The Resolution Think Tank, on the radio this morning. He’s talking about pensioners and their incomes.
Apparently pensioners now typically have higher incomes than those of typical working age. Typically.
I got the impression that this has been identified as a problem by the said Willetts, or “Two Brains” as he was known in the 1990’s when he was a Tory Minister.
In previous lives he identified a number of problems. Feminism was identified as problem in 2011. Women who otherwise would have stayed at home as housewives were now going to university and taking jobs away from men. He made a few other dubious conclusions based on this theory, mainly about well educated men breeding with well educated women.
In 2013, “Two Brains” sold off student loan debts to Erudio Student Loans. He ignored the implications for students, leaving it debt collectors Arrow Global and private equity group CarVal Investors to deal with the students. All “Two Brains” was interested in was transferring public debt to ordinary citizens and creating an income stream for his Tory friends. So back to the pensioners.
The idea that pensioners might not be living in poverty seems to rankle in some quarters. And the possible solution to this problem, typically, might not be to increase the incomes of those of typical working age, but to look at how we typically might reduce the incomes of typical pensioners. And get them back into the poverty club like all the other plebs.
At this point it is worth making the distinction between the really “typically” rich pensioners, like retired bank executives, and the more “typical” ordinary pensioner, who is less well off.
“Employment income has been an important component of pensioner income growth – particularly for younger and richer pensioners – but growth in private pension incomes and public benefits have nonetheless been the most important factors and to varying degrees have helped deliver growth for all age and income groups of pensioners“, says the Resolution Think Tank, typically.
Typically The Resolution Think Tank go on to say they will, “look in more detail at the policies and economic changes that have helped shift the age profile of UK incomes and at how the intergenerational contract might be strengthened and the prospects of all generations improved.”
I would expect that, typically, to lead to policies aimed at reducing the incomes of pensioners because, “with pensioners now disproportionately unlikely to be in poverty“, it’s time to conduct a sustained attack on these ageing “Enemies of The People”. Bravo for all Think Tanks.
In the meantime, lets hear it for the Filthy Rich, typically, the only group who deserve not to be at risk of poverty, however relative or marginal, even though they have, typically, been unaffected by seven years of Tory Austerity Ideology.
And for all those who think it’s unfair that they may be worse off than the previous generation I say take a look around. Economies have grown, profits have grown, the rich are richer now than they have ever been. So where is your share?
If you think the older generation have taken it think again. All that economic growth, all that profit, all those bonuses, that’s where your share is. In someone’s offshore bank account, someone’s tax haven. You are going to have to fight for it.
If you fight the pensioners you’ll get £10, if you’re lucky. If you fight for a fair share of profits, fair taxation, fair wages, an end to tax havens and a fair voting system you’ll get £Billions.
If you think mum and dad nicked your share, think again. Your share was nicked by the usual culprits. You know who they are, and you know where your share is.
It will be interesting to see how this unfolds and if “the pensioners” become the new “enemies of the people”.
Finally, I feel for the retired, disabled, remain voting, ex-trade union leader, from immigrant stock, your time may be coming.