Pensioners worse off than they were in 1950

Danny Alexander has got widespread coverage today for his shocking piece of research showing that pensioners are worse off than in 1950.

As his news release says:

On the day that the Government has announced the level of benefits for next year, the Liberal Democrats have released figures showing that pensioners now receive less than in 1950.

The figures show that pensioners now receive only 15.9% of the average wage, compared to 18.4% in 1950.

Commenting, Liberal Democrat Shadow Work and Pensions Secretary, Danny Alexander MP said:

“These figures are disgraceful. We have had a Labour government for ten years, and yet pensioners are getting even less than under Margaret Thatcher.

And here’s part of the Daily Mail‘s coverage of the story:

The elderly are worse off now because living costs – particularly power bills and council tax – are rising much faster than their state pensions.

Also the pensions credit system is so complex that 1.7million fail to claim it while many are facing means-testing for benefits.

The Office for National Statistics said more workers would also have had final salary schemes which guarantee a higher pension.

It is good to see Danny Alexander continuing the fine tradition set by David Lloyd George.