Ministers must protect value of state pension as it is lifeline for many
The governments of Tony Blair and Gordon Brown made huge strides in cutting pensioner poverty.
Introducing pension credit helped millions of low-income pensioners and retirement savings were boosted, But every generation faces fresh challenges and this one is no different.
The sad reality is people drawing their pension 25 years from now are set to be £800, or eight per cent, worse off per year than their counterparts today.
Four in 10 – nearly 15million people – are not saving enough for retirement. Young people are in a bind caused by the cost-of-living crisis.
Their incomes are squeezed and they are paying an outrageous amount of their net income on rent. Many people want to save more for when they retire but simply cannot afford to do so.
One of the issues the UK-wide Poverty Commission is expected to look at is the challenges facing the low-paid and the estimated three million self-employed people who are not saving into a pension.
Labour must take a values-based position into pension reform. Ministers must protect the value of the state pension as it is a lifeline for many people.
Labour is right to encourage people to save more for their retirement if they can. But they must also provide greater incentives for people on modest incomes to find the spare cash.
Part of this involves turning the corner on the cost-of-living crisis so that people have more money in their pockets. Keir Starmer has the chance to be as bold as previous Labour Prime Ministers and he must seize the opportunity.
Join the Daily Record WhatsApp community!
Get the latest news sent straight to your messages by joining our WhatsApp community today.
You'll receive daily updates on breaking news as well as the top headlines across Scotland.
No one will be able to see who is signed up and no one can send messages except the Daily Record team.
All you have to do is click here if you're on mobile, select 'Join Community' and you're in!
If you're on a desktop, simply scan the QR code above with your phone and click 'Join Community'.
We also treat our community members to special offers, promotions, and adverts from us and our partners. If you don't like our community, you can check out any time you like.
To leave our community click on the name at the top of your screen and choose 'exit group'.
If you're curious, you can read our Privacy Notice.
Identity scandal
The public's right to be protected from beasts like Connor Tait does not end when they are let out jail. The 32-year-old hid in a bush and pounced on the child who was walking home from football training in 2013.
He was released from jail in 2023 and has recently changed his identity – using the name 'Connie Duncan' – while advertising himself on social media as a cleaner and dog walker.
Ash Regan MSP is right when she says the case underlines a deeply troubling reality that when sexual offenders can change their identity without proper safeguards.
How can it be right that a convicted paedophile can simply adopt a new identity and begin advertising services to enter people's homes?
Public safety must be put first. Tait should not be allowed anywhere near any family's home. We need robust checks and transparency to prevent offenders from simply reinventing themselves and potentially putting others at risk.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Guardian
11 minutes ago
- The Guardian
Will the Epping hotel riots spark another summer of unrest?
After an asylum seeker staying at a hotel in Epping was charged with sexual assault, the past two weeks have brought a series of escalating and violent demonstrations from local residents and far-right agitators. On Sunday came the most serious unrest yet, with about 1,000 people gathering outside the hotel, escalating into what local police called 'mindless thuggery'. Ben Quinn, a senior reporter at the Guardian, was at the scene and describes to Helen Pidd how the Reform UK leader, Nigel Farage, reacted at a press conference the next day: Farage: Do I understand how people in Epping feel? You bet your life I do. Nick Lowles, the chief executive of the anti-racism organisation Hope Not Hate, says Epping has been a hotbed of far-right activity for years. He describes how the recent demonstrations have drawn nationalist activists from around the country but says that, despite that fact, local anger should not be ignored. Lowles believes that listening to residents and offering them a better future is the best way to counter the racist and violent narratives increasingly entering the mainstream. Support the Guardian today:
Times
27 minutes ago
- Times
Times letters: Regulation and funding of water companies
Write to letters@ Sir, I am left unsure what will change in the water industry after the publication of the report by Sir Jon Cunliffe and the response by the government (news, Jul 21 & 22). One regulator is to be replaced by another and water bills will rise by an average of 36 per cent over the next five years, which means that the public will in effect pay a second time for any improvements that should have been made by now, had water companies spent more investing in infrastructure instead of lining executive and shareholder pockets. As to the claim by Steve Reed, the environment secretary, that sewage pollution in England will be halved by 2030, please forgive my TiffenAspatria, Cumbria Sir, Your editorial ('Water Torture', Jul 21) rightly castigates the regulatory system as well as the operating companies. You say that regulatory responsibilities are split between three bodies: Ofwat, the Environment Agency and the Drinking Water Inspectorate. But even this is an understatement. Natural England also has some responsibilities, although how these fit with those of the EA is anyone's guess. And to complete the chaos there is also the Consumer Council for Water, which supposedly exists to look after consumers' interests. A single regulator with appropriate powers will be welcome, even if its creation is more than 30 years GaneLondon SE21 Sir, Feargal Sharkey says corporate greed is at the heart of the water scandal (Jul 22). I disagree: it is the broken tax system that creates the incentive for financial engineering. As long as there is an imbalance between the tax treatment of debt and equity, financiers will continue to load up low-risk enterprises with debt to generate higher returns to their investors, all at the expense of KokinisSheffield Sir, May I dare to express a little sympathy for the water companies? The unfettered concreting over and tarring of front gardens, and seemingly endless acres of further urbanisation and development, have led to flash flooding and the overwhelming of sewage facilities. Local authorities should have separate drainage for surface RennieKintore, Aberdeenshire Sir, The Thames Tideway project to upgrade waste-water treatment systems in London to enable them to cope with storm-water surges was completed in May. It has effectively eliminated the problem of unwanted releases into the Thames. The question now is: when will this technology be introduced in the rest of the UK?Dale FittesChartered engineer, Warwick Sir, If every new house was required to have a large rainwater tank the amount of drinking water needed could be substantially reduced. Rainwater could then be used to flush toilets, wash cars and water FreelandBristol Sir, In 1955, when I was 12, my mother and I had a holiday at Hove and were surprised, while swimming in the sea, to find ourselves surrounded by lavatory paper. Plus ça WillettLondon SW19 Sir, William Hague ('Welfare reform is a moral and financial must', Jul 22) is right that unless we rethink our welfare system we face economic crisis. The tragedy is that this has been staring us in the face since at least the early 2000s. Successive welfare ministers have recognised that but each has put the issue in the 'too difficult' box, to be left for their successor. If we wait for one finally to have the courage to tackle it we will wait another generation. We need to break the mould: we should establish a cross-party royal commission with a remit to report within one year — the issues and the facts are clear so a year will be ample — to recommend the measures that need to be taken to tackle this crisis. Then we should ask all our political parties to have the courage to implement its Leigh LewisPermanent secretary, Department for Work and Pensions 2005-10; Watford Sir, It is inevitable that Rachel Reeves will struggle to persuade Labour MPs to back legislation that has to be considerably tougher than the recent attempts at welfare reform. The solution is to raise income tax by, say, 2 per cent, with the promise of bringing it down again when welfare reforms have improved the government's ScottEast Knoyle, Wilts Sir, I am horrified to admit that I agree with Reform UK about something: in this case the need for more 'big strapping male police officers' (report, Jul 22). The episode that made me agree is as follows. A few years ago I was returning home in my car, through my local town centre, late on a weekday evening. While at a red light I saw a street brawl erupt around me involving about ten adult males. One man was struck and fell to the floor beside my car; his attacker then began to kick his unconscious body. Before too many head kicks were delivered I got out of the car and pushed the assailant away. When threatened I didn't move, so got punched a fair bit. Other passers-by then intervened to break it all up and we called an ambulance for the chap on the floor. When the dust had fully settled, a slight WPC and a male constable no bigger than me (I am 5ft 7in and 63kg) nervously appeared. I was absolutely disgusted. Two 100kg male PCs might have had a calming effect on the mayhem but these two lightweights certainly wouldn't. It is possible that the officers knew this and had kept out of the way until things had settled CoeWinterton, Lincs Sir, Nigel Farage misses the point when he states he wants to recruit 'beefy bobbies' to strike fear into criminals. The police have no need of beefy bobbies — most officers are more than capable of arresting criminals. What they need is a justice system that allows them to do their duty without fear of being accused of racism, Islamophobia and lack of impartiality, and inquiries into alleged wrongdoing that take years to complete. Further, if the courts imposed appropriate sentences (assuming, of course, that the craven CPS allowed prosecution in the first place), this would act as a deterrent to wrongdoing, which is sadly absent at present and is empowering lawlessness. Only a complete overhaul of the justice system will address this imbalance, not bigger MolloyMetropolitan Police 1976-2006; Chart Sutton, Kent Sir, The chief executive of NHS England, Sir Jim Mackey, advocates a 'different approach' to the 'Christmas Day' acute care service provided during previous industrial action by doctors, but offers little detail about how this might be achieved ('Patients at risk during walkouts, warns BMA', Jul 22). How can productivity remain constant when capacity is reduced without increasing pressure in the system past the point of irreversible damage? Without a clear and funded 'surge' plan, Mackey's mandate is no more than SoodSouthend-on-Sea, Essex Sir, The impending loss of the Lord Ashcroft VC and GC collection in the Imperial War Museum is to be regretted (Thunderer, Jul 22). Anyone who has visited the display, the largest of its kind, cannot help but be humbled by the gallantry of those who received these awards. The removal of the collection serves the interests of no one. The museum should be made to justify its irrational Prescott (Lt-Col, ret'd)Southsea, Hants Sir, While awaiting the arrival of the Bayeux Tapestry and after enjoying the impressive replica at Reading Museum (letters, Jul 21 & 22), Times readers should venture west to Fishguard and visit the tapestry commemorating the last invasion of Britain in 1797. It is beautifully and colourfully designed, and was stitched by local people. Moreover, it celebrates an invasion that was BattleLondon SW18 Sir, It seems ridiculous that local councils are still unable to levy a tourism tax on hotel stays ('Tourist tax plan rejected by Treasury', Jul 22). I travel frequently to the US and Europe, where these taxes are accepted as a standard element of any hotel bill. They reflect the tourist's/business visitor's use of local infrastructure (roads and public transport etc) that, without such a tax, becomes solely the responsibility of local taxpayers. Enabling councils to collect a tourism tax, without any of the money going to central government, would not only help to relieve pressure on local government finances but would also help to reduce further demand on government Anthony HarrisCambridge Sir, Libby Purves makes powerful points about the damage done to the starter job opportunities for young people ('Bar, café and retail jobs are society's heartbeat', Jul 21). It brought to mind the contrast my wife and I found on a recent visit to Australia. Shops, restaurants and bars were well staffed by bright, smiling young people who oozed enthusiasm for their role and their customers. Many were young Europeans and clearly motivated by their travel experience, and had been brightly trained by their bosses. Our government, through its policies, is denying our own children the chance to experience life beyond the screen. As Purves implies, the government needs to change R SmithSouthport, Merseyside Sir, Although I admire the creativity of the various top-level chefs in their quest for the perfect mashed potato (report, Jul 22), sometimes simplicity is the best approach. My late mother made the most delicious mash, following the teaching of her own mother. She used old, floury potatoes, gently boiled them until tender then mashed them with a traditional hand-masher. She would add a large knob of butter and a good splash of milk, but the true secret was in the beating: my sister and I competed to beat the mash vigorously with a large tablespoon. The result was CarvellWhitby, N Yorks Sir, Your leader writer is clearly a person of absolute taste ('Brewing Storm', Jul 22). Tea leaves are for brewing: tea bags are for puffy CullenArmagh Sir, Having read James Marriott's excellent comment article (Jul 22) discussing the film Barry Lyndon, I am reminded of another film set in the 18th century: the wonderful 1963 film Tom Jones, with Albert Finley in the title role. The two films couldn't be more different in texture and storytelling but both give a vivid view of life in the middle of that century. I would thoroughly recommend watching both and if stamina permits, one after the GodfreyArborfield Cross, Berks
Times
37 minutes ago
- Times
Mike Lynch's estate faces bankruptcy over £700m court order
Mike Lynch's estate looks likely to be wiped out after a High Court judge ordered it to pay more than £700 million in damages to Hewlett Packard Enterprise in one of the UK's biggest corporate fraud cases. Mr Justice Hildyard ruled in 2022 that Lynch had defrauded Hewlett Packard Enterprise (HPE) over the US tech giant's $11.7 billion (£8.7 billion) acquisition of his business software company, Autonomy, in 2011. On Tuesday morning, almost a year since the technology entrepreneur's superyacht sank off the coast of Sicily while he was celebrating his acquittal in a US criminal trial, Hildyard announced he had awarded HPE damages totalling about £730 million. The final figure could end up being substantially higher once interest is factored in after a final hearing scheduled for November. Lynch's family indicated they would consider appealing against the ruling. Hildyard concluded that had Autonomy's accounts been properly stated, HP and Autonomy would have probably struck a deal that valued each Autonomy share at £23 rather than the £25.50 that it paid. The Silicon Valley company had demanded $4 billion, far more than the $516 million that Lynch, who was 59 when he died last August, was estimated to have earned from the takeover. Hildyard said that HPE's claim 'was always substantially exaggerated'. In a statement written by Lynch before his death, the tech tycoon said the ruling confirmed that HPE's original claim was 'not just a wild overstatement . . . but it was off the mark by 80 per cent'. He added: 'Today's judgment is a view that Autonomy's actual value was not even 10 per cent below the price HP paid. This result exposes HP's failure and makes clear that the immense damage to Autonomy was down to HP's own errors and actions.' A spokesman for HPE said: 'We are pleased that this decision brings us a step closer to the resolution of this dispute. We look forward to the further hearing at which the final amount of HPE's damages will be determined.' The damages will be paid for out of Lynch's estate. In the latest Sunday Times Rich List, the Lynch family's assets were valued at £473 million. Many assets are in the name of Angela Bacares, his widow, including Loudham Hall, their Suffolk estate, and shares in the cybersecurity business Lynch backed called Darktrace, which were sold for more than $300 million last year. If HP can prove these assets were really his, they could be targeted. HPE bought Autonomy, a pioneer in 'big data' analytics founded by Lynch in 1996, in 2011. Within months of the deal's completion, HPE claimed that Lynch and his finance chief, Sushovan Hussain, had used accounting tricks to make Autonomy appear far bigger, and financially healthier, than it was. The sale sparked more than a decade of costly litigation and investigations. In 2018, Hussain was convicted of fraud in the US and sentenced to five years in prison. He was released in January 2024 and settled with HPE in this case for an undisclosed sum earlier this year. In 2021, the Financial Reporting Council, the UK's accounting watchdog, fined Deloitte £15 million for 'serious failures' over its audit of Autonomy's accounts. After a long extradition battle, Lynch was sent to the US in 2023 to face a jury in California, but he was acquitted, along with Stephen Chamberlain, Autonomy's vice-president of finance, last June, shortly before the yacht accident in August. According to an interim report from British marine investigators, at about 4am on August 19 last year while the Bayesian was anchored off the town of Porticello, the 56m (184ft) boat was violently knocked sideways by a sudden 80mph gust. Water suddenly started cascading in and Bacares was pulled out of the vessel by a crew member. Others however, including Lynch and their 18-year-old daughter, Hannah, never made it out of the boat as it sank 45m to the sea bed. The conclusion of the UK legal proceedings has been in limbo since the maritime tragedy. Although HPE wanted $4 billion, few thought it would get that much. Hildyard said in his original findings that the US company was unlikely to get the sum it was after, because HP may well have bought Autonomy, regardless of the fraud.
