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Later Life Ambitions (LLA) Response to the Budget 6 March 2024

Updated: Apr 11

Later Life Ambitions welcomes the state pension rise through the triple lock. While state pensions have increased by 8.5% , this has only allowed pensioners to try and keep up with the cost of living which has far outpaced this increase. 

 

Sally Tsoukaris, General Secretary of the Civil Service Pensioners Alliance, a member of pensioners’ campaign group Later Life Ambitions, said, “The rise in the state pension this weekend under the triple lock mechanism is extremely welcome. However, it comes in the context of continued uncertainty that the triple lock is to be sustained throughout the term of the next government, which is concerning for our members. Our members are realistic about the economic pressures the country is under but are disappointed by the lack of a longer-term commitment to the policy.  

 

“And while this government now says the triple lock is here to stay for a few years at least, our members are increasingly concerned about talk of doing away with National Insurance, a policy that would essentially punish those that have worked and paid in all their lives but now face being caught by the dragnet of income tax. 

 

“Nearly 10 million pensioners are predicted to be paying income tax within the next few years. That’s not what income tax was designed for and it’s going to hurt the very people in later life who society should look to shield from money worries.” 

 

The Chancellor has not gone far enough to alleviate the impact of the cost of living crisis on hard pressed pensioners. 

 

All older people deserve to have a retirement in which they can thrive and not just survive but by doing nothing to stop more and more pensioners being hit with income tax this Spring, the Chancellor has failed the fairness test. 

 

Around 800,000 older people will still be dragged into paying income tax this April due to the failure to raise thresholds in line with inflation. The number of pensioners paying income tax has doubled since this government came to power in 2010. This is the real scandal the Chancellor did not address. 

 

We have set out in our Manifesto for Later Life practical actions that will make a huge impact on the ability of older people to enjoy the life they have saved and strived for.  

 

A fair pension, an accessible home, improved transport options, comprehensive social care when its needed, measures to tackle digital exclusion and an Older People’s Commissioner to truly represent older people is not too much to ask for.  

 

We need to start hearing more from the government and opposition about making a future where everyone can look forward to a better later life. 

  

For further information or comment, please contact David Halliwell on laterlife@connectpa.co.uk or call 07950 719056

 

To find out more about the Later Life Ambitions manifesto, please use the link below https://www.laterlifeambitions.co.uk/manifesto 

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