The Centre for Policy Studies (CPS) has warned that cash reserves set aside to fund state pension payments are set to run out as soon as next year.
In the report published on Friday, CPS claimed it had found a “serious flaw in the government accounts (not surprising seeing as they are compiled by members of the public service unions), and because of this the government will find itself short of cash for pensions sometime in 2015.
The authors added that the underfunding will force the Treasury to increase taxes in order to ensure pension payouts continue.
Michael Johnson, speaking for CPS warned that the current state pension level is “unsustainable, adding the pension will be “watered down to a basic subsistence in the near future if the government fails to take urgent action.
The research also found that people under the age of 45 would have to wait longer to qualify for their state pension while those under the age of 35 should expect pension payments to be scrapped altogether by the time they retire. People currently in work should expect large tax increases to fund pensions, Johnson said.
Or perhaps our fuckwith leaders could simply stop joining in all America’s wars and flying bombing missions at £1,000,000 a bang. We could leave the EU and save £40 million A DAY, that would fund a few pensions.
And perhaps, to cite a couple of examples of how the incompetence of morons employed in the public services and protected from consequences by the too-powerful and entirely politically motivated public service unions, civil service purchasing officers could learn that rather than paying £3000 per bog standard, network ready PC they can buy them retail for £300 each (and that’s expensive) or shelling out £1500 for an NHS Wheechair when a very adequate vehicle can be had for £99.
Lightweight wheelchair (uses aluminium tubing instead of steel), fit for purpose and cheap (£99)
Problem: Government wastes shitloads of money and can’t pay its bills.
Solution: Abolish public service unions that reward incompetence, sack incomptent public service purchasing officers, hire over 45s with losts of experience in the private sector to make sure taxpayers are getting value for money. Simples.