The post you are reporting:
Harry - you clearly did not actually listen to George Osborne yesterday, the public sector pay freeze applies to those earning over £18000 a year, protecting the lowest paid. Child Tax Credits and Child Trust Funds are being removed from those who need them least, leaving them intact for the lower earners, public sector pensions limited to £50,000 a year so affecting only those earning £100,000 or more, etc etc. The same theme throughout.
Huge public sector savings have to be made, there is no choice and any Government will do this thanks to Labour's profligate spending over the last 10 years (not in the first 3 years when they followed Ken Clarke's spending plans).
This is only a start and no-one can claim that there is anything here targetted at the low paid.
Victor - I deal with these issues every day and see people who did or did not save enough towards retirement. I know a hell of a lot more than you will ever do about peoples savings and spending habits from the sharp end.
The number of people I see who claim they did not save enough into a pension because they could not afford it, who thought nothing about paying £200 a month on cigarrettes, £50 a month on Sky and with two holidays a year in Greece or Spain. These people made their spending choices and that is their right, but they cannot complain when this lifestyle comes to an emergency stop when they retire and cant afford it. A littel more moderation in their spending habits would have enabled them to save more and have a better life in their retirement. Imagine if they just halved their cigarette intake, really looked at the relative costs of the Sky Movies package, or just trimmed back a little on one of their holidays. That money saved and invested over 20-30 years would transform their retirement.
A lot of people I see do ask themselves such questions when prompted and amend their spending priorities once they appreciate the facts of life. Others do not.
I might also add that some of the heaviest smokers I see and those most addicted to Sky Tv, are among the very less well off and I am simply amazed at the priorites they have for what little money they have. I really cannot see how some of these can spend what they do on this, but of course, its other things that suffer, no savings, no pensions, poor health and so on. Thats their choice.
I see it all the time Vic and it comes down to choices.
