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Article: Cost-cutting proposals would freeze state pensions and public pay.
- Article from:
- Money Marketing
- Article date:
- September 17, 2009
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The Government should freeze the basic state pension and the minimum income guarantee for a year as part of cost-cutting measures, according to The Taxpayers' Alliance and The Institute of Directors.
The joint report, How to save #50bn - reducing spending for sustainable public finances, released last week, said the Government would save #1.4bn by freezing the basic state pension for a year and suggested that employee contributions to all unfunded public sector pension schemes should be increased by a third, saving #2.5bn. Other areas of cost cuts include abolishing child benefit and the child trust fund to save #8.4bn and freezing public sector pay for a ...