Submitted on Sunday 10th August 2014
Published on Monday 11th August 2014
Current status: Closed
Closed: Monday 30th March 2015
Signatures: 8
Change the tax laws for pensioners
Since 2008 the bank of England has adopted a policy of a low base rate. This has kept mortgages low but it has affected inflation. The avarage pensioner has not gained from this.
I propose two changes to the tax laws.
First point. No pensioner earning under £25,000 per annum should pay any taxes on pensions.
The second point. No pensioner earning under £40,000 per annum should pay any taxes on savings.
These two points should help compensate for the current low base interest rate and encourage more pensioners to retire, thus freeing jobs up for young people and helping the economy.
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