| Budget 2010 |
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I have welcomed the Budget’s support for pensioners. The Budget announced further support for pensioners: - Additional pensioner payment alongside the Winter Fuel Payment in winter 2010-11. This additional payment is worth £100 to households with someone over 80 and £50 to households with someone aged over female state pension age. - Government also remains open to considering proposals for further simplification to the tax rules, following the announcement in Budget 2008 that enabled small occupational pension pots to be taken as a lump sum. - From April 2011 the Working Tax Credit will be available to people over 60 who work at least 16 hours a week, rather than 30 hours as currently. I’m proud that Labour supported pensioners through the recovery, getting help to those who needed it when they needed it most. Now, as we come out of recession, it’s vital that we carry on helping pensioners in South Tyneside. So I’m particularly pleased that the Chancellor announced that this year, pensioners will receive the additional payment alongside the Winter Fuel Payment – just like last year. This additional payment is worth £100 to households with someone over 80 and £50 to households with someone aged over female state pension age. This is ON TOP of the Winter Fuel Allowance, worth £300 to households with someone over 80, and £200 to households with someone aged over female state pension age. I’m also pleased that the Budget increases the basic state pension by 2.5% from April 2010. That’s £97.65 a week for single pensioners and£156.15 for couples. Overall, the average state pension rises by 2%, more than average earnings. And from April 2011, we’re also making the Working Tax Credit available to people over 60 who work at least 16 hours a week, rather than 30 hours as currently. This is a real boost to people who want to carry on working. |
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