Every adult could be forced to take out private insurance to cover the cost of their care in old age under plans being considered by the Government.
Don’t we already have a compulsory insurance scheme that everyone working has to pay into? Called National Insurance?
The only problem being that they’ve pissed the money away on lesbian outreach diversity workers?
6 responses so far ↓
1 Kay Tie // Jan 1, 2009 at 4:11 pm
Ooo goodie, another Government-sponsored mandatory Ponzi scheme.
2 John Fembup // Jan 1, 2009 at 4:55 pm
America has a national health programme for the elderly (Medicare) that relieves the private insurance industry of the high health costs of older people.
U.K. is considering a private health insurance programme mandate for the elderly, that will relieve the NHS of the high health costs of older people.
Ingenious, is what I say.
Twisted – but ingenious.
3 Gareth // Jan 1, 2009 at 5:07 pm
Surely if it’s private insurance it’ll not be a Ponzi.
Can’t see Scotland going for this if they don’t seem to have the same problem. It’d at least be a bit of tax competition.
From the article: Forcing individuals to take out policies with private firms would reduce the cost to the Government and avoid suggestions of a new stealth tax.
No stealth. An in your face tax instead. It would be a TV licence for growing old.
4 Kay Tie // Jan 1, 2009 at 5:37 pm
“Surely if it’s private insurance it’ll not be a Ponzi.”
Who says it’s private when it comes time to pay out? Over a 40 year period the chances of not being screwed over by a politician are zero.
It’s already happened: look at SERPS/S2P. The pension payout is capped, but the contributions are remain earnings-related. A private company could not legally engage in this kind of theft. Only Governments can do that.
5 MarkS // Jan 2, 2009 at 8:01 am
Looks like the government will have Madoff with some more of our cash. This will put Tax Freedom day somewhere around late September.
6 eurealist.co.uk » Blog Archive » Paying for old age // Jan 9, 2009 at 7:49 am
[...] a light-hearted and amusing story. Unfortunately, I can’t find one worth bothering with so, via Timmy, let’s kick off with a coronary-inducing article instead. Every adult could be forced to take [...]
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