Karen Allen

I fought South Shields at the May 2010 General Election for the Conservatives, gaining a 6.4% swing which was a 4% vote increase. The Conservatives polled 7,886 up from 5,207 in 2005. I was born in the North East and grew up in South Shields. I currently live in London and am employed as a Director at Lloyd's Broker Howden International.

Wednesday, December 17, 2008

Justice for the Savers

Does Gordon Brown have no shame? Prudent pensioners, who have worked hard and saved all their lives, are among those paying the highest price for his decade of profligacy and he won’t do anything meaningful to help them.
Last week Sir John Major proposed the first £5,000 of savings income each year should be exempt from tax. This proposal, called Justice for Pensioners, is deliberately aimed at protecting those who have prudently made provision for their retirement through saving and who have been particularly hard hit by our record low interest rates. The Proposal has been met with broad support from all but the Government.
Quite apart from being the decent thing to do, it would also be the right thing to do. Part of the reason we are in Gordon’s mess is because he encouraged debt, not saving. We will need to save more in the future and it’s not just pensioners; we should be encouraging our youngsters to save too and penalising savers now will do nothing to encourage this.
To answer my own question then, Gordon clearly has no shame. Having presided over the train wreck that is now our economy for ten years as Chancellor and the last year as PM, he will do anything to stay in power, including penalising the prudent to protect the profligate.
Please support the Justice for Pensioners Campaign.



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