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PDs Promise €300 Pension if Returned to Power
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Looks like this whole ‘auction politics’ phrase is here to stay, it only took the indo a few lines of this story before its use. To the substance, the PDs are promising that over the next five years if they are in power the old age pensions will be €300 by the time they leave office (a rise of €20 per year for non-contributory or €15 per year for contributory).
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Based on the present cost of increasing the pension, it would cost €1.1bn to bring the contributory up to €300 and another €500m for the non-contributory to hit the mark. Essentially, Mr McDowell is committing himself to an extra €325m in spending on pensions each year for five years.”
Sounds like wealth redistribution to me, now are the PDs suggesting that these elderly folk shoudl be using that money to pay for private health care or their nursing home?
Going by the average age of the speakers at the Helix on Saturday, the main beneficaries of the pension rise will be Labour party TDs and councillors.