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The Budget

Submitted by rlewis on 15 May, 2008 - 12:13.
Agedhealth For pensionable Seniors, the budget promised to index future pensions to the highest of three indicators, CPI, average national wage and a new cost of living index for seniors. It also increased a range of allowances such as gas/electricity/water and more, and made provision for another $500 grant. It seems to me that this is a good budget for seniors, for which we should be grateful. Now we need to have the government drill down into the next level issues of aged health care and housing, and come up with productive and affordable initiatives here as well. The facilitation of seniors employment for those who wish to work is also a growing national priority, as also an urgent review of the livable value of the base pension.[Editorial modified 19 May]



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Modification of Editorial
Submitted by rlewis on 19 May, 2008 - 10:03.

On reflection I still think it was a good budget outcome for seniors, but  I was quickly and rightly reminded, that what is now needed is  a serious review of the  value of the base pension. I have amended the editorial accordingly.

All Western Governments around the world are scared of the coming  costs of ageing, and are very reluctant to make rods for their own backs in the future, in terms of  commitments now, that may scale out of control in times to come.

This is a complex subject that needs a very serious national commission or similar to fully assess. (For example the expected future health costs I see bandied about, simply extrapolate current cost/numbers, and do not  take into account the rapidly emerging  treatments for alzheimers, heart disease, bone density and more, [especially gene treatments],  that will have a profound  effect on such future costs).


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