What Is a Pension Worth?

There are signs that the government is coming round to acknowledging that after the next election [certainly not before] they will have to cut spending in order to try to balance the books. The Observer told us yesterday that one of the areas that will be looked at will be the cutting of handouts to rich pensioners. I am sure that I will be defined as a rich pensioner and, therefor, I will be able to look forward to a drastic cut in my very generous winter fuel allowance of £250 per year. Never mind, I will still have my even more generous state pension entitlement of £95.00 per week to help me get by. I am glad in a way that we have a state pension that is practically the worst in Europe because, if I had a decent pension, I would only waste the extra money on little luxuries. I say "practically the worst in Europe" because although Latvia [or is it Lithuania] and Malta provide lower pensions, the lower costs of living in those countries will get you more for your money.
As I was typing this, I have just realised that a banker who earns £1m per year and works 60 hours per week will "earn" £95.00 in 17 minutes; Frank Lampard at Chelsea F.C. will "earn" the same amount in less than 2½ minutes - assuming that he also slaves away for 60 hours per week. The picture above shows Frank celebrating the latest £95 contribution to his living wage.
If the government wants to cut spending they need a list of priorities and top of the list is the need to stop pointless legislation. This New Labour government has been suffering legislative diarrhoea for most of the last 12 years and many of the new regulations and laws are totally pointless. Socially and economically useless, they do nothing but funnel cash - our cash - down into the drains.
The next step will be to get rid of armies of advisers and quangos. We have in excess of 500,000 civil servants; why do we need to have quangos and consultants to advise them on everything from education to defence to law and order and etc, etc. There are even quangos that advise each other in self-perpetuating circles of paper pushing that require minimal input from anybody. One reason, of course, for all these quangos and consultants is to get rid of responsibility. Governments take credit for good weather but blame someone else for typhoons and hurricanes.
David "Call me Dave" Cameron has his own ideas, as well, starting with cutting the pay of ministers and MPs. Well, it's a gesture. Probably pointless and counter-productive but it will give him good headlines for a day or two.
Alex Salmond wants independence for Scotland. Who can blame him?
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