Dr McKee was writing about the pension crisis that has been in the news so much this week.
According to the good doctor:
"... the state pension was over 20% of average earnings in the eighties but has now fallen to little more than 5%."The state pension is close to £4,000 PA. That would mean that "average earnings" are around £80,000. Somehow I don't think so. Then I had a look at the chart in Wednesday's Herald. The 5% figure is a forecast for the year 2060 or thereabouts. Presumably the paper is expecting a continuation of growth in earnings ahead of increases in the state pension. The chart actually shows that the state pension is around 15% of average earnings at the present time, not 5%. That fits in with an average wage of something like £26,000 - a bit nearer the mark than £80K!
If politicians want to gain a bit more respect it would help if they had a basic understanding of facts and figures.
Comment made on previous template:
But if they had a better understanding of facts and figures then they wouldn't be politicians, would they?
15 October 2004, 11:56:08 GMT+01:00
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