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LibDems say millionaire pensioners should see benefits cut

Nick Clegg WEF Speaking 480

The Liberal Democrats are considering curbing age-related universal benefits for pensioners with assets of more than £1m.

The BBC reports Liberal Democrat leader and deputy prime minister Nick Clegg (pictured) said the welfare budget “cannot remain immune” from Government cuts after the general election in 2015.

The propoals would affect benefits such as winter fuel allowances, free TV licences and bus passes, and would come in after the 2015/16 spending round.

Clegg told BBC Radio 4’s the World at One yesterday: “I think there are many millionaires in this country… will also say voluntarily that maybe they should give up some of these universal entitlements to help people who are less lucky than them to make ends meet.”

He said it was “very difficult to explain… at a time when people’s housing benefit is being cut that you should protect Alan Sugar’s free bus pass”.

The Conservatives have said they will retain age-related universal benefits for the lifetime of the Parliament.

The £1m threshold could be based on the value of an individual’s home, income, or size of their pension pot.

Treasury Secretary Danny Alexander said welfare “cannot be the only place we look” for cost savings, but said “difficult choices must be fairly shared; those that who can afford more must contribute more”.


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There are 6 comments at the moment, we would love to hear your opinion too.

  1. I don’t think pensioners with assets in excess of £1m should have their benefits cut. But if they are receiving substantial income from their assets it they is no need for them to receive state benefits.

  2. And so they should ! Bet they still claim winter heating allowance (They need it to heat their mansions).

  3. i think he should quantify how many people he is talking about and therefore what the treasury take will be…. i suspect it will be a few thousand people and the savings before costs will be less than £5m. probably have to pay this out in extra costs. Opinions are great but detail is important

  4. Perhaps they worked their butt’s off from an early age to retirement and in doing so paid more than their fair share of tax & NI.
    Why should they give up their rights to fund someone who chose an alternative lifestyle?
    Does Clegg really believe Alan Sugar jumps on a bus?

  5. If the tax being paid on their income far outweighs the benefits that they are getting from the State, they are not costing anything.

  6. This is as stupid a front line policy as I have heard in my life. As one of the (many) anons above says, how many of our pensioners are millionaires? So how much will this save the Exchequer (ie the rest of us)?
    Go back to the LSE Students Union rally, those who perpetrated this nonsense. As soon as this pub shuts the revolution begins…

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