Some numbers on pensions and the winter fuel payment

[papasmurf]

Quote from: Borg Refinery 11/09/2024, 01:02:40Quote from: Borg Refinery
How the heck did Labour manage to get this so wrong?


https://www.thenational.scot/politics/24576146.expats-eu-will-get-fuel-payments-shetland-shiver/

Can someone verify if this is actually true?

If so I can only laugh... WTF?

The mind simply boggles

What makes matters worse is that Shetland produces so much energy it exports. The residents should be getting electricity for nothing or even a share of the profits:-

• Viking Wind Farm
  The UK's most productive onshore wind farm, Viking, can generate 443 megawatts (MW) of electricity. A 260-kilometer subsea transmission link will transport the electricity from Shetland to the mainland.
  
• Interconnector cable
  An interconnector cable is due for completion in 2024, which will provide an export potential of 600 MW.
  

Shetland's electricity supply is also made up of:

• Lerwick Power Station: A 67 MW diesel-fired station commissioned in 1953
• Sullom Voe Terminal (SVT) Power Station: Has an installed capacity of 100 MW, but currently exports up to 22 MW to the Shetland system
• Burradale Wind Farm: A 3.68 MW privately-owned wind farm
• Small-scale community-based wind generators: A number of these generators are also in operation
  

Shetland's electricity demand ranges from around 11 MW at its minimum to around 48 MW at its peak, which is mostly centered in Lerwick.

[Nick]

Of course some do and I'd never suggest otherwise - but to extrapolate that to millions of people and imply it's the norm is a stretch

You just made that up, NOWHERE did I say it was the norm or majority. 

[cromwell]

How the heck did Labour manage to get this so wrong?


https://www.thenational.scot/politics/24576146.expats-eu-will-get-fuel-payments-shetland-shiver/

Can someone verify if this is actually true?

If so I can only laugh... WTF?

The mind simply boggles

It's true and due to some post brexit agreements.

[Borg Refinery]

How the heck did Labour manage to get this so wrong?

AS many as 35,000 long-term retirees on the continent are in line to get the Winter Fuel Payment even if they exceed the new "wealth" threshold set by Labour's Rachel Reeves.

As a bizarre result of the Brexit agreement, expats living in most EU nations plus Norway, Iceland, Liechtenstein and Switzerland will continue to receive their Winter Fuel Payment. France and Spain are not included.

READ MORE: Labour vote to scrap universal Winter Fuel Payment despite grave warnings

It will, however, be a case of not a penny for lots of pensioners shivering in Shetland but cash, presumably in euros, for pensioners basking in the winter sun of southern Italy.

Expat millionaires with mansions in Milan will be able to have the money paid directly into their Swiss bank accounts.

Non è giusto – It's not fair.

https://www.thenational.scot/politics/24576146.expats-eu-will-get-fuel-payments-shetland-shiver/

Can someone verify if this is actually true?

If so I can only laugh... WTF?

The mind simply boggles

[Borg Refinery]

What a ridiculous statement: "Proof that someone COULD have spent their money on holidays and booze". You show me proof that NOBODY spent their money on holidays and booze.

Of course some do and I'd never suggest otherwise - but to extrapolate that to millions of people and imply it's the norm is a stretch

[cromwell]

When are those tweets dated?

What's that got todo with anything?

[Unlucky4Sum]

Hypocrites and liars

When are those tweets dated?

[cromwell]

Hypocrites and liars

[Unlucky4Sum]

Its only smaller if you earn over 100k and I don't think any pensioners in that bracket need to worry about losing the winter fuel allowance.

So in short Nick was right, Smurf was wrong (again) and there are some pensioners who should lose the WFA. 

Perversely they will be the ones that actually have paid for their state pensions whereas most pensioners have barely paid for half on it.  The steady increases in it have long been a way of buying votes off the backs of the working age population.

[Nick]

Its only smaller if you earn over 100k and I don't think any pensioners in that bracket need to worry about losing the winter fuel allowance.

Sorry Beeb but you're wrong, anything that is seen as a benefit in kind is taken off your tax code. For example if you're an ex company director and your contract says you keep your company car when you retire it comes off your tax code. Or if you don't keep the car, your tax code will still reflect the benefit in kind for the remainder that tax year. My accountant does my self assessment and charges my company £140 for filing it, I get that taken off my tax code as it's a benefit in kind. 

I spend half my life dealing with accountants, I know what I'm talking about. 

[Nick]

That £12570 is the basic tax allowance for ALL tax payers Nick. Your tax code takes into account extra allowances you may be entitled to. I am NOT wrong Nick YOU are.

Ah so now you're changing your statement to everyone has the same basic rate of tax, which is different from when you said everyone gets the same income tax allowance, which is incorrect because my allowance is £11630. So you are wrong. 

The income tax allowance is the same for all. The rise in the State Pension has in my wife and I's and many others case has been totally negated by the loss of the winter fuel allowance and the income tax on our small private pensions.

[Nick]

Proof please that people were profligate with their money in the main in large numbers and that that's why they didn't save for their pensions?

Rents are extremely high, food prices are high, the cost of living is ridiculous in general, utilities are sky high - how are people supposed to be able to afford to live? These things have cost a lot for well over 14 years now. Did people who are struggling really frequent pubs in such large numbers they couldn't save for their pensions? Seeing from the outside whilst walking past they often look empty or so I noticed in my hometown last I was there in 2023 (not that you'd want to go in most of them even if you could afford it, unless you like a good brawl and having to bottle drugged up loonybin cases to get out in one piece)

What a ridiculous statement: "Proof that someone COULD have spent their money on holidays and booze". You show me proof that NOBODY spent their money on holidays and booze. 

[Barry]

It should also be remembered that the WFP is non-taxable, making it worth £375 to taxpayers, rather than £300.
This policy of removing WFP got some Labour dissent in the commons vote and John McDonnell said he was not electd to impoverish his elderly constituents, (or words to that effect).

[BeElBeeBub]

There's a very good case for increasing the personal allowance. The national minimum wage is £11.44 per hour which equates to £400.40 for a 35 hour week, or £20,821 per annum.
Therefore the tax allowance should be £20,800. Why should people pay tax on a minimum wage?
This would also put a larger number of retired people out of paying tax.

Does seem daft to pay any kind of benefit and then tax them on it. 

[Barry]

That £12570 is the basic tax allowance for ALL tax payers Nick. Your tax code takes into account extra allowances you may be entitled to. I am NOT wrong Nick YOU are.

There's a very good case for increasing the personal allowance. The national minimum wage is £11.44 per hour which equates to £400.40 for a 35 hour week, or £20,821 per annum.
Therefore the tax allowance should be £20,800. Why should people pay tax on a minimum wage?
This would also put a larger number of retired people out of paying tax.