Letters to the Editor – 15/01 – Scottish debt, Pension age, Best of Twitter
Scottish debt
[Re: Has the Treasury hurt the Union by backing UK debt until Scotland’s vote? Yesterday]
When sovereign countries split, it can create complicated legal and financial problems in allocating liabilities, and the uncertainty over this allocation increases risks in financial markets. Given the obvious importance of the financial sector to the UK, it is in the broad interest of the government to clarify the situation over UK debt. The need to stabilise market expectations outweighs the political leverage the government could have obtained by letting the uncertainty weigh against a Scottish secession vote.
Thomas Laryea, partner, Dentons
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Pension age
[Re: Britain’s public sector needs to become more like Switzerland’s, yesterday]
Due to the long-term increase in UK life expectancy, the state pension age should be far higher than it is today. Successive governments have failed to adequately increase the age, meaning we now have to play catch-up. The changes proposed by George Osborne do not even keep pace with the increased life expectancy that will have occurred by the time they are implemented. They cannot be said to represent a sensible balancing of state pension funding.
Name withheld
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BEST OF TWITTER
Real income squeeze in the UK has been about weak wage growth, not high inflation. Still a problem.
@DuncanWeldon
Inflation at 2 per cent. Low inflation, economic growth go hand-in-hand in a well-functioning economy.
@asentance
Only 35 per cent of French think EU membership is a good thing for their country.
@OpenEurope
At present trends (2003 to 2011), half of British adults will be obese by the year 2013.
@anthonybmasters