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.”

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Notes to editors:

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