Good riddance to the man who bought us Stealth Taxes, wrecked final salary pension schemes, and claimed no more boom and bust, followed by the biggest bust in history!
Gordon Brown retiring from politics.
- Thread starter delc
- Start date
chrisd
Major Champion
I wish he'd announced it before he became PM the man was a total liability to the country!
SocketRocket
Ryder Cup Winner
Sold our gold at a give away price, increased welfare spending by 40% .
Final salary pensions were utterly unsustainable and needed to be ended. I am not going to pin their demise on Brown, the shear number of people living longer made them impossible to support.
He was a dire leader but he did preside, as Chancellor, over the longest period of sustained growth in history. People don't have fond memories of him but over his time as Chancellor he did bring in some good changes. No one remembers a Chancellor fondly, it goes with job.
He was a dire leader but he did preside, as Chancellor, over the longest period of sustained growth in history. People don't have fond memories of him but over his time as Chancellor he did bring in some good changes. No one remembers a Chancellor fondly, it goes with job.
Rubbish! Most pension funds had a big surplus until companies were encouraged to take contribution holidays and ACTs were abolished by Gordon Brown.
Jensen
Tour Rookie
Here, here totally agreed.
But Brown like all MPs will still have his nice fat final salary inflation proof pension.
Crazyface
Tour Winner
It's impossible to put into words on here how much I hate him without getting banned.
ArnoldArmChewer
Tour Winner
May he spend his retirement in poverty, he certainly brought many close too it.
D
Deleted member 15344
Guest
It's not all rubbish
Final salary pensions were unsustainable
It was a lot of money taken from public spending with no extra contribution from the people who gained the final salary pension.
It was a "bonus" for working for civil service or military - it had to stop
Blue in Munich
Crocked Professional Yeti Impersonator
They were utterly mismanaged rather than completely unsustainable, and Government has a lot to answer for in that respect, particularly as the only one that doesn't seem to be suffering huge changes in terms and conditions.
And it wasn't a bonus; it was part of the T & C's for signing up for a job that in a lot of cases put you at more risk of injury or death than most other jobs on the same pay scale.
Most company final salary pension schemes were nothing to do with public spending. Both employees and employers paid money into a fund that was invested on the stock market to produce enough money after 40 years to pay a decent pension. To a large extent this depended on compound interest being reinvested. Gordon Brown removed the tax credits that pension schemes could claim back on dividend income, which over a period of years made these schemes no longer viable. I agree that civil service and parliamentary pensions (that GB will get) are a bit of a Ponzi scheme.
Last edited:
Doon frae Troon
Ryder Cup Winner
Not under Brown.......that was during the Thatcher era.
That as well, but at the time most pension funds were supposed to be hugely in surplus! However it was indirect taxation because companies made more profit and therefore paid more Corporation Tax!
Val
Ryder Cup Winner
Britain enjoyed a golden period with Brown as Chancellor, people always remember the bad and he presided over a lot of bad as PM but I always felt as chancellor he did a decent enough job.
D
Deleted member 15344
Guest
My statement was in regards finally salary pensions towards public sector workers so not sure why you are rambling about private companies and stock markets etc etc.
That wasn't Browns fault that companies gambled people pensions away etc
D
Deleted member 15344
Guest
And a damn sight more didn't do jobs putting them at risk injury etc
But even now the pension scheme is still very very good and beats any company scheme as again it means no extra contribution beyond normal taxation
I was very very lucky with my pension but there is a great deal amount of fat cat civil service workers earning fortunes after retiring at 55.
It possibly was mismanaged by governments but there was going to come a time that it had to change
In the numerous briefs on pensions I had during my last ten years I couldn't believe how much some people got and how much it costs the country
Rumpokid
Challenge Tour Pro
He sold of a large share of the countries gold assetts when the price was rock bottom, and spent (and borrowed) vast amounts of money that, we did not have, or could ill afford..Fast forward a few years from his 'golden period'
Can anyone name a Golden Chancellor? One that was universally loved, admired and upset no one?
Brown was around longer than most and so upset more over time.
Brown was around longer than most and so upset more over time.
I worked in the Public Sector, at least until our bit (a water company) was privatised by the dreadful Mrs T. We had a fully funded pension scheme (pretty much the same as private company schemes) both before and after privatisation, which I paid 6% of my salary into. Now glad that I did, or I would be subsisting on the State pension.
I think that most pension fund managers were very careful and certainly didn't gamble our money away.
However since Gordon Brown's tax raid on pension funds, they have contributed at least £10bn a year to the Treasury, which was mainly wasted on benefits for the undeserving poor (mainly Labour supporters) and immigrants! :angry:
Last edited:
Foxholer
Blackballed
There is so much mis-interpretation, error, narrow-mindedness, selfishness, bias and outright prejudice in the posts so far that it's pointless adding my own! 
But as far as Westminster attendance is concerned, Broon has been 'retired' since Miliband took over in 2010!
Much maligned, he seems to be acting in a slightly more humble way than 'Tony' in his charitable ventures!
He was still very impressive on the hustings during the Independence campaign!
But as far as Westminster attendance is concerned, Broon has been 'retired' since Miliband took over in 2010!
Much maligned, he seems to be acting in a slightly more humble way than 'Tony' in his charitable ventures!
He was still very impressive on the hustings during the Independence campaign!
