Tory’s Warn on New Austerity!

I not so very long ago placed the reasons on why I would be voting to Remain IN the E.U.

and amongst the personal reasons I gave and Posted, was the worry I had that there would be a collapse in Share Prices, a run on the £, increased and accelerating mortgage interest. All of which would have big impact on Pensions and Pensioners.

Today the Prime Minister is saying this –

“But Mr Cameron told the Sunday Telegraph a vote to leave the EU would put a ” black hole in our public finances of between £20bn and £40bn” and ministers would be forced to re-examine pensioner benefits.

‘New austerity’

“We’ve made a special effort to protect pensioners,” he said – highlighting the “triple lock” which says the state pension will rise in line with earnings, inflation or by 2.5%, whichever is higher, and the protection of bus passes.

“We did all this in the expectation of a growing economy. But if we had a big black hole, we could struggle to justify this special protection any longer.

“In fact, even if we could justify it morally, it wouldn’t actually be affordable,” he said.”


Phil Bateman

Phil Bateman is Married to Mary and lives in Wednesfield North. He was a long serving local politician having served previously on the now defunct West Midlands County Council... read more


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