National Insurance extra
Before the Conservative conference starts, I feel I should draw attention to something the Chancellor told Labour last week, which nearly everybody missed. As he sweated and ranted away, I was having trouble paying attention, like most people, when he suddenly said: "Labour has established the pension commission and asked them to examine the case for moving beyond voluntarism."
Say what? Did I hear that right? Does that mean compulsory pensions for all? The Pension Commission reports next month. Will it recommend that we should all have to pay another nine per cent of our income into personal pension schemes, as in Australia? Hardly anyone reported that weaselly half-proposal, which, it seems to me, was the one genuinely new piece of information to emerge from the Labour conference. Perhaps it would have attracted more attention if the Tories spent more time opposing the Government than each other.
The Ponzi scheme that is the State Pension is crashing, as these schemes tend to do, so he wants to force us to invest in another new improved version! I'm not that gullible, I am more likely to believe in the Rev Tobias Eno who has found $43 million which he is happy to share with me if only I can send him a trifling administration fee.....