Wednesday, 28 January 2009
Deflation is good for us.
Pension increases are calculated on the rate of inflation in September each year. I’ve complained many times in the past that the inflation number used is a rip off because it is the lowest measure of inflation the government use in any of its statistics and does not reflect the inflation being felt by pensioners. This year though could see a phenomenon not seen before when we could have a deflationary situation in September. Now assuming scrooge Brown is still in power, (I sincerely hope not) his policy in the past has been to stick strictly to this number. Remember the 75 pence? Will this lot of closet Tories calling themselves Labour dare to try to reduce pensions? I hope so, because that will be the last straw. It should galvanise all the pension groups into taking action. I do hope I’m around to see it and active enough to take part. Even the National Pensioners Convention’s annual Lobby of Parliament might be a real force in Westminster for once.