Rachel Reeves did not mention pensioners a single time in her spring statement, writes Dennis Reed of Silver Voices
Chancellor Rachel Reeves (Image: Getty)
The very large majority of older people will soon be paying tax on their state pension entitlements, and part of every vital Triple Lock increase will go straight to the tax man. The Government is ignoring huge public pressure to lift the lower tax threshold to ease the cost-of-living crisis, as shown by our change.org petition to stop the state pension being taxed – which has now reached over 200,000 signatures.
Older people are very worried that the Middle East War is going to recreate the energy crisis of 2021-23 when our standards of living suffered a permanent decline because of the double whammy of rising energy and food prices. Instead of trotting out a pre-prepared speech, the Chancellor could have recognised the changed situation and reassured pensioners that the Government would provide extra financial support this winter, if necessary.
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Rachel Reeves missed the ideal opportunity today to reassure older people that she has their backs as a fresh energy crisis looms.
All lower income families, including millions of pensioner households, are already struggling with the cost of living and will not be able to cope with fresh spikes in energy and food costs on their way via the Middle East. Instead of reassurance, the Government’s tax policies are making life more miserable for those just above the benefit eligibility level.
The Office for Budget Responsibility report sets out starkly that an extra one million pensioners, on top of previous estimates, will be sucked into the tax system for the first time by 2030-31.
The opportunity was ducked and older people were as usual not mentioned once in the Speech! The Government must also consider restoring the Winter Fuel Payment to all households and uprating it in line with rising energy prices.
In the face of a fresh cost of living assault, all talk of scrapping the Triple Lock, or debating its future, must cease.
Any political party thinking of removing this vital protection from pensioner households at a time of such global insecurity must be detached from electoral reality.
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