Unhealthy Consequences

We here at Continental Telegraph often opine on matters economic and political for your delight. You know that wonderful interface between the ways we do stuff normally and the ways our political masters think that things should be done. Tim’s particularly fond of this. On our side, we prefer just to be a bit of a sarky economist and tusk-tusk mildly when policy makers come up against one of the things that Tim likes to point out: unintended consequences.…

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Champagne and The Welfare State

Those who wonder about the economics of the state pension should note that the triple lock applies to all state pensioners, regardless of income or wealth. This promises that their pension will increase every year in line with inflation or with average wage increases, whichever is the higher. The triple lock guarantees that it will rise by at least 2.5% yearly if neither of the other two other measures reaches that level.

A note from my friend illustrates one of the consequences of this promise.

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