The British Press have highlighted the problems faced by retired British people with small pensions when they seek to augment their meagre income.
Gordon Brown put an end to the Private Pension Schemes of companies with a ruthless "Tax Grab" when he was Chancellor in October 2006. At the time the cost to companies was estimated at 100 Billion pounds Sterling and most Schemes were obliged to close down.
More recently the EUROZONE with the aim to protect Banks and stabilize the cost of inter bank borrowing, the interest rate for investments has been reduced to less than 1%. Banks are very reluctant to offer loans for medium or long term periods or to pay interest for small loans received.
While EUROZONE countries are bailed out to prevent a dirty and disasterous devaluation, but above all to save the EURO, Bankers everywhere are congratulating themselves for their achievements with high salaries and bonuses. Some of these "bail-outs" will never be repaid or will be written off.
British pensioners are the forgotten sector of the economy and cannot even invest their "old age nest egg savings" to stave off selling their homes or possessions. Their standard of living at the end of their lives declines, they linger and no one really cares.
The so called "Labour Shadow Cabinet" also has no real ideas how to propose anything on this subject. Miliband basically is against everything the current British Conservative Government led by David Cameron proposes, while Blair and Brown, as their "Heritage", have really left their "New" Labour Party in a complete mess !
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