The Commons Bar Mk IX - MHoC Chat Thread Watch

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Rakas21
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#5461
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#5461
(Original post by InnerTemple)
I don't think it is right to compare personal/household debt to sovereign debt.
Not unless you can convince a family member to refinance your debt at a negative real interest rate.

But yeah i tend to agree. Even if we do, it's more apt to compare the recession to a pay cut than a job loss and economic growth to a pay rise.
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Aph
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#5462
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#5462
(Original post by Rakas21)
Well if we don't grow enough then in several decades we get even harsher austerity or we're screwed but it's more likely that by the time we die, state pensions won't exist.

Right now though, people are too paranoid.
State penguins won't exist?! Unless you kill people upon retirement then how about no?

*cough*the right*cough*
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Rakas21
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#5463
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(Original post by Aph)
State penguins won't exist?! Unless you kill people upon retirement then how about no?

*cough*the right*cough*
Probably more mandatory private pensions and a cultural change to living with your parents when they get old.
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Jammy Duel
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#5464
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(Original post by Aph)
State penguins won't exist?! Unless you kill people upon retirement then how about no?

*cough*the right*cough*
Retirement? What's that?
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Aph
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#5465
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#5465
(Original post by Rakas21)
Probably more mandatory private pensions and a cultural change to living with your parents when they get old.
you mean becoming sinoised? And mandatory pentions?

(Original post by Jammy Duel)
Retirement? What's that?
Thing that makes you more likely to vote Tory.
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Rakas21
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#5466
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#5466
(Original post by Jammy Duel)
Retirement? What's that?
Too true.

I'll be investing in the stock market until the day i die.
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nixonsjellybeans
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#5467
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#5467
I love a good steam sale I was tempted by the Democracy DLC. Its a shame that despite how good it is the game is somewhat limiting, nationalisation is non-existent in the game.


I struggle to work out why you would graffiti on a memorial like that? Was it just the first thing they got their hands on? If you're going to cause some aggro and spray paint something like that then at least do it on something relevant. Doesn't do no good for anything. As such can we pack in the sweeping blanket comments, we have all idiots and loons in our parties/holes of support.

I'd be interested to know the questions behind who did it, I bet some SWoPpers or something did it.
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TeeEff
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#5468
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#5468
(Original post by Rakas21)
I'll be investing in the stock market until the day i die.
Heh Actively or Passively? I'm probably just going to sit on a bunch of ETFs (maybe a few punts) until retirement rather than trying to pick the next ASOS or whatever.
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Rakas21
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#5469
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(Original post by The Financier)
Heh Actively or Passively? I'm probably just going to sit on a bunch of ETFs (maybe a few punts) until retirement rather than trying to pick the next ASOS or whatever.
Depends how much money i'll have. I reckon old age will be really boring though.
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username1524603
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#5470
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#5470
The government should abolish pensions and replace it with an annual living income of £18,000 for everyone over the age of 70 who earnt below a certain limit in their lifetime. Currently there are 5,000,000 people over the age of 70 and if £18,000 was paid to them all the total cost would be £90bn; which is considerably smaller than the £154bn currently spent on pensions. Straight away UKIP has saved £64bn a year and has made pensioners better off as £18,000 is a lot higher than the average state pension.
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Jammy Duel
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(Original post by Nigel Farage MEP)
The government should abolish pensions and replace it with an annual living income of £18,000 for everyone over the age of 70 who earnt below a certain limit in their lifetime. Currently there are 5,000,000 people over the age of 70 and if £18,000 was paid to them all the total cost would be £90bn; which is considerably smaller than the £154bn currently spent on pensions. Straight away UKIP has saved £64bn a year and has made pensioners better off as £18,000 is a lot higher than the average state pension.
Assuming that all your figures are correct, where the hell is all that extra money going?
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username1524603
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#5472
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(Original post by Jammy Duel)
Assuming that all your figures are correct, where the hell is all that extra money going?
I am taking my figures from Age UK for the number of people over 70 and from UK public spending for how much is spent on pensions. Currently the system looks at savings and means testing things which ass extra administration costs, and the pension is payable from 65. Having a lump sum annual payment for all over 70 will be easier to administer, make pensioners better off, and save on additional benefits like winter fuel payment as the pension is higher. I do not know why the real life government has no already looked at doing what I suggest. My first bill in the new term is going to be overhauling the pensions on TSR to save us £64bn a year.
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Jammy Duel
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#5473
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(Original post by Nigel Farage MEP)
I am taking my figures from Age UK for the number of people over 70 and from UK public spending for how much is spent on pensions. Currently the system looks at savings and means testing things which ass extra administration costs, and the pension is payable from 65. Having a lump sum annual payment for all over 70 will be easier to administer, make pensioners better off, and save on additional benefits like winter fuel payment as the pension is higher. I do not know why the real life government has no already looked at doing what I suggest. My first bill in the new term is going to be overhauling the pensions on TSR to save us £64bn a year.
If you come to need a seconder I will probably be willing to second it, assuming I'm still an MP at that point.
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Aph
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(Original post by ONS)
population of the UK aged 65 and over was 11.1 million (17.4% of the UK population) in mid-2013, up by 290,800 from mid-2012. The number of people in this age group has increased by 17.3% since 2003.
(Original post by Nigel Farage MEP)
The government should abolish pensions and replace it with an annual living income of £18,000 for everyone over the age of 70 who earnt below a certain limit in their lifetime. Currently there are 5,000,000 people over the age of 70 and if £18,000 was paid to them all the total cost would be £90bn; which is considerably smaller than the £154bn currently spent on pensions. Straight away UKIP has saved £64bn a year and has made pensioners better off as £18,000 is a lot higher than the average state pension.
http://www.ons.gov.uk/ons/rel/pop-es...estimates.html

we have an ageing population but over 5 million people die between 65 and 70 each year?
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username1524603
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(Original post by Aph)
http://www.ons.gov.uk/ons/rel/pop-es...estimates.html

we have an ageing population but over 5 million people die between 65 and 70 each year?
Yes, Age UK and the ONS Population Pyramid confirm this. I added up the number of people in each age group on the pyramid over 70 and the result is slightly under 5 million people. I would say the lump sum annual income could even be £15,000 which would cost £75bn if paid to everyone. Some people will have total lifetime earnings above a certain threshold though bringing down the total cost of the idea to £70bn at the most.
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Aph
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(Original post by Nigel Farage MEP)
Yes, Age UK and the ONS Population Pyramid confirm this. I added up the number of people in each age group on the pyramid over 70 and the result is slightly under 5 million people. I would say the lump sum annual income could even be £15,000 which would cost £75bn if paid to everyone. Some people will have total lifetime earnings above a certain threshold though bringing down the total cost of the idea to £70bn at the most.
Age UK says that there are 3mn over 80, so for more then half of the people aged over 65 to die before 80 and then only 2 fifths to die in 10 years seems a little implorsable. It also isn't want the pyramids show...
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username1524603
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(Original post by Aph)
Age UK says that there are 3mn over 80, so for more then half of the people aged over 65 to die before 80 and then only 2 fifths to die in 10 years seems a little implorsable. It also isn't want the pyramids show...
It does make sense as people who have lived until the age of 70 are more likely to live longer until the age of 80 so you will see a slow down in the death rate of people that age, which will then start to increase again as people reach 90 years old. However, it does not matter as unless there are 10.2 million people over the age of 70 in the UK, which there are not as Age UK reveals, the idea will still save money.
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RayApparently
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#5478
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I just realised that the Great Repeal came into force on the 7th and it completely passed me by.

*sigh* Long live the Queen. :mad:
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Jammy Duel
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#5479
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#5479
Gentlemen, the Queen!
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Tanqueray91
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#5480
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#5480
Anyone seen the front page of the Sunday Torygraph regarding the bloody Scot's independence...?
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