Government will protect pension holders

Tue, 06 Jan 2009

Gordon Brown has publicly stated that he will protect pension holders and savers who are watching their income dwindle. With the Bank of England due to cut interest rates still further this week, many pensioners are tightening their belts once again.

The Bank of England Monetary Policy Committee will meet later this week to make a decision about interest rates. Pension scheme holders, who often rely on interest to top up their pensions, are suffering alongside the economy.

The Prime Minister defended Bank of England base rate cuts, saying that it was necessary to curb inflation . He said that the government are looking at ways to help pensioners through the crisis.
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