Comments on: There are clear ways to rebuild our broken economy but the government is blinded by Tory dogma

By: Noel Scoper

Noel Scoper — Wed, 15 Nov 2017 05:24:01 +0000

“Alternative studies put tax gap at around £120bn a year,”

Only two studies have said that, both by Richard Murphy, who continues to count tax paid late as a gap *every year*.

By: Jay ginn

Jay ginn — Tue, 14 Nov 2017 13:14:02 +0000

Prem Sikka is right to expose the huge amounts of money held back by the rich. They live on the Money Tree ( no Magic involved) which must be shaken to releaee vital funds for investment in socially useful jobs such as renewable energy sources and electrically driven engines; education, health and social care.

As to the’ nhsgp ‘who says weve paid in more to state pensions than we receive, i would say,
First, we pay in order to pool risks that we all face, not only longevity but unemployment and sickness etc. Remember the state pension is for as long as one lives; it doesnt run out when ones personal fund is depleted but gives security, albeit at too low a level.
Second, eAch generation pays NI conteibutions to funds their parents’ state pension.Would the writer wish his or her parents to have no state pension? Each worker, in turn, is funded by their childrens contributions. Seems fair to me.
Third, what is not fair is the way private funded pensions work. They make no allowance for mothers time childrearing, hence older womens private oensions are about half of mens, at every level of educational qualifications or skills (the majority of women having been mothers previously).
Fourth, most private pension schemes are based on the stock market, effectively a casino where losses or gains are a gamble outside the scheme member’s control- no security.
I conclude state pensions should be much higher, with a wage-related element, and private pensions discontinued, or at least receiving a lower subsidy in tax relief.

By: patrick newman

patrick newman — Mon, 13 Nov 2017 16:13:36 +0000

Mr Sikka’s article goes some way to uncovering the paradox of the UK becoming wealthier even through recession but an increasinging number of people becoming relatively and in many cases absolutely poorer. What is clear is there is enough funding potential to facilitate Labour’s programme and more!

By: nhsgp

nhsgp — Mon, 13 Nov 2017 09:42:47 +0000

People have paid the welfare state trillions for their old age.

Where are the investments that will repay back that money in their old age? There are none.

Compare to the inputs if they had been invested what does the state offering look like?

For Mr Average he gets 112K of pension payouts. If he retired today his fund would be worth 1.2 million

Mr Mr MIn Wage he would have had 450K in a fund.