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Would love to know how many people who signed this petition also believe the nation is spending far too much and should cut taxes.
State pension spend: currently £125bn. Under this model: £415bn (up £290bn). Entire public spending budget, for everything: £1,190bn.
So implementing this would mean approximately a 25% raise in taxation. Can't see that one being very popular... https://petition.parliament.uk/petitions/654389
"If we can't pay a fair Pension, then how can we afford foreign adventurism, nuclear weapons, armies, royals, pageantry, MP's salaries, etc?"
Total defence budget: £45bn. So that's just £245bn we need to find by slashing, er, MPs salaries and the royals. Feel like we might struggle to balance the books on this one.