CPS Research Fellow Michael Johnson has been quoted in a Daily Mail article on the cost of the Pensions Bill.
To read the full article, visit the Daily Mail website.
“Michael Johnson, of the Centre for Policy Studies (CPS), said an ageing population, coupled with ‘wretched’ unfunded promises such as the triple lock on State pensions would make it difficult for the Chancellor to achieve a surplus.
He said the ‘vast mountain of unfunded promises’, particularly those aimed at older voters over the next 30 to 40 years, would make it hard to significantly reduce the deficit.
Mr Johnson said: ‘The issues around the ageing population simply will not go away.
‘The situation will get worse because there will be more pensioners but also relatively fewer workers paying tax.
‘If the Government is going to get there [and achieve a surplus] they will have to target the lowest hanging fruit on the Whitehall tree and curb incentives for saving into a pension, including pension tax relief.’”
To read the full article, visit the Daily Mail website.
Date Added: Friday 12th June 2015
