Old people need to share burden of cuts: think tank

first_img Old people need to share burden of cuts: think tank Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap KCS-content Tuesday 22 February 2011 8:00 pm Tags: NULL Share whatsapp PUBLIC finances could save £16bn a year if the government reduced state entitlements for older people, the Institute of Economic Affairs (IEA) will announce today.Universal benefits – provided to everyone, including the rich – such as winter fuel allowance should be abolished, the influential Westminster-based think tank is expected to say.By 2015-16, £2.1bn a year could be saved by scrapping the allowance.Pensioners often pay taxes and receive benefits at the same time: a needless “fiscal churn,” the IEA said.And the state pension age should rise in line with increases in life expectancy, their paper “Sharing the Burden” found.“The government has imposed many new burdens on the younger generation in cuts and taxes,” said the IEA’s Philip Booth.“They have let older people remain largely insulated from much of the cuts. It’s time this changed.” Show Comments ▼ whatsapplast_img read more