Bank of England governor blames Britain's elderly for the state of Britain's economy.

 

Andrew Bailey - Governor of the Bank of England

Although the Labour Chancellor's increase in N.I. for employers and increases in the National Minimum Wage have driven up prices and labour costs, the governor of the Bank of England, Andrew Bailey, is blaming Britain's ageing population for the state of Britain's flagging economy.

The British state retirement pension is one of the least generous in Europe and many British workers retire much later. Many British workers, especially those who work in manual occupations, do not live long enough to get the state retirement pension. Yet we're told that the British state retirement pension is unaffordable and unsustainable and there is now talk of means-testing the state retirement pension.

The British government must have saved billions of pounds since they increased the state retirement age for women from 60 to 66 years of age. The government also save millions of pounds each year because many people don't claim the state benefits to which they're entitled.

Britain's politicians and wealthy individuals like Andrew Bailey do expect to receive generous pensions funded by the taxpayer. Liz Truss, the former Conservative Prime Minister, did far more damage to the British economy than Britain's ageing population and yet this oaf, still received a lifetime allowance of £115,000 a year, after being in office for just 49 days.

Leaving the E.U. has also been another self-inflicted economic disaster for Britain. A recent report by economists and analysts at Cambridge Econometrics, says that the UK will be £311 billion worse off by 2035 due to leaving the E.U.