Will Rishi ditch the triple-lock on pensions?

 

Rishi Sunak - The Yorkshire Maharaja

Calamity Liz Truss, is to pocket £19,000 in severance pay after being Prime Minister for just 45 days. That's in addition to the £115,000 a year, pension for life, that she's also entitled to after she trashed the British economy and sent the financial markets into turmoil.

As we've now got a huge financial black hole in the accounts, the Tory government are looking for ways to fill it by making financial cuts. Truss and her Chancellor Jeremy Hunt, promised to protect the triple lock on pensions and to increase pensions in line with inflation currently running at over 10%. The new Prime Minister, the Yorkshire Maharaja, Rishi Sunak, has refused to give such an undertaking before the budget announcement on 17 November.

When the Tories fuck-up, it's usually those who rely on state benefits and public services that pay the price. We can expect cuts in public spending and the freezing of public sector pay along with a crackdown on benefit claimants.

As we've now had three Tory Prime Minister's anointed by the Tory gerontocracy, in just over three months, some 71'ministers who have either been sacked or resigned, are now entitled to over £700,000 in severance payments. Britain's MP's are like pigs with their nose in the trough. They tell us that they can't afford to uprate pensions and benefits in line with inflation, and award themselves pensions and golden handshakes after being in a job two minutes.

If Sunak, wants to find ways to balance the books, he should start looking at increasing taxes on his wealthy friends. A windfall tax on energy companies would be a start. They're making huge profits and the tax could be used to help those in need to pay their fuel bills. Rishi could also look at cracking down on non-domiciled tax status for wealthy people like his wife, or offshore tax havens. In the U.S. Joe Biden as just introduced a 1% tax on shareholder buyback scams, where companies buy back their own shares to increase the share value. The pay of C.E.O.'s is also linked to raising shareholder value.