Politicians must stop buying the pensioner vote


Press Release

The UK tax system is overly complex and tax rates are too high

Press Release

The liberalisation of rail fares would benefit passengers and taxpayers alike

Pensioner bonds are nothing more than a political gimmick

Commenting on George Osborne’s announcement to extend pensioner bonds, Mark Littlewood, Director General at the Institute of Economic Affairs, said:

“This announcement well and truly proves that we are not all in it together. Borrowing more expensively than the government needs to is effectively a direct subsidy to wealthy pensioners from the working-age population.

“Pensioner bonds have never been anything other than a gimmick that will benefit pensioners at the expense of the taxpayer, and it beggars belief that the government is prolonging such a foolish policy. It’s high time our politicians stopped buying votes with subsidies for the old and rich.”

To arrange an interview please contact Stephanie Lis, Head of Communications: 0207 799 8900 or 07766 221 268.

Notes to editors:

The mission of the Institute of Economic Affairs is to improve understanding of the fundamental institutions of a free society by analysing and expounding the role of markets in solving economic and social problems.

The IEA is a registered educational charity and independent of all political parties.