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Savings interest should be tax free for pensioners

Submitted on Thursday 4th August 2011

Published on Wednesday 10th August 2011

Current status: Closed

Closed: Friday 10th August 2012

Signatures: 65

Tagged with

Council ~ council tax ~ Pensions ~ Tax

Petition Action

Savings interest should be tax free for pensioners

Additional Information

The last 28 months of 0.5% base rate has decimated the incomes of all those who are reliant on savings income to supplement poor state pensions

The Government has done nothing to help pensioners and indeed has made the situation far worse

1) by changing from RPI to CPI for uprating pensions neither index reflects the true spending of Pensioners especially because their major costs of Council Tax and Housing are excluded

2) Reduction of winter fuel allowance

3) Interest rates are far below even CPI

Hence Pensioners desperately need help and by allowing all savings incopme to be tax free would be a fair way to treat those who have no other way to improve their situation and have certainly done nothing whatever to create the financial crisis

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