It only comes round once per year and, like last week, it affects most people in the country and gets maximum publicity in the media.
However in the Halifax Courier, it made barely a quarter of a page, and in that it summarised the whole of the Budger 2012, and then it didn’t even mention the most contoversial Item, which was the removal of the age allowance for pensioners (unbelievable).
On that subject I’ll confine myself to one comment. The Chancellor said that the £5 increase to the State Pension would leave pensioners better off.
In fact that increase was to catch-up from the depreciation in the pension’s value due to inflation and this amount is taken from the inflation rate on 30 September every year.
Even that rate was reduced to the lower Consumer Price Index from the original Retail Price Index.
Using that increase as a criteria for removing the age related allowance is nothing but a con!
I feel most sorry for those who will be compulsarily retired from work in 2013 having reached retirement age, losing their income from employment and not gaining as much as a penny on receiving their Pension’s tax allowance due to age!