Excessive Budget speculation causes uncertainty and unease among older people
The government’s upcoming Autumn Budget later this month has been preceded by weeks of rumours and leaks as to what it may contain.
Media Officer Steve James recently joined our Experts By Experience Network to discuss the Budget and how the speculation has impacted them.
If ever there was code of silence and discretion surrounding Budgets before the event, those days have truly passed. With the advent of 24-hour rolling online news and social media, an array of anticipatory insights are passed on – whether people like it or not.
Such has been the level of speculation it has led to some high-profile politics watchers to question whether this political centrepiece is even needed or helpful. Former Bank of England chief economist Andy Haldane has said there is a direct link between intense Budget speculation and weak economic growth.
Joining our Experts By Experience Network for a chat, I could tell that the glut of information hadn’t bypassed them. But that didn’t mean that the hypothesising led to them to feel prepared for what was to come – in fact, it was quite the opposite.
It was apparent that the Budget speculation brought about anxiety and confusion for the group, with contradictory statements quickly changing in the press. And because everyone’s situation is unique, generalisations served no purpose.
I heard it said that it’s confusing hearing the speculation about pension draw down or taxing pensions as it’s not clear what the current situation is. There was a belief that perceived negative impact is largely led by the press or other speculators.
There was also an observation that in a bid to tackle the financial deficit, that older Disabled people often receive a scrutiny and vilification that felt uncomfortable.
Older Disabled people are often perceived as being frightened of work and that they’re, lazy.
But the group felt that stereotyping used by politicians and in the media wasn’t just confined to Disabled older people. There was a general perception that many older people only have interests limited to pensions and ‘mansion taxes.’ They believed that older people were portrayed as having requirements inherently self-serving and bereft of empathy and understanding of society as a whole.
But listening to the voices of the group, it became clear that it’s palpably untrue that older people are only interested in their own generation and its needs. More than one group member said they don’t even mind paying more in taxation as long as they see a tangible benefit beyond the rhetoric.
I was told that older people do think about other things beyond pensions.
The group believed that they needed to see more improvement to the NHS and transport – but the improvements had to be visible and obvious.
Overall, the disconnect between politicians of all hues of the spectrum and the average person was articulated. There was a similar attitude towards the mass media.
I was told that the simple examples used in the media – for example, married couple, two children and so on when trying to explain the Budget – aren’t always helpful.
The group felt this causes worry and fear because the implications aren’t properly scrutinised or extrapolated.
They felt that the true picture is far more complex, with regional and other differences not always taken into account. Housing is more expensive in the south. Tax is a worry for those still working. The cost of food is a worry.
With an increase in the cost of living, there was antipathy towards more austerity. Participants in the discussion said there was a shroud of negativity that surrounds the weeks and months before a Budget, and the overall tone was far too downbeat.
The group was collectively critical by the message of pragmatism, statistics and dour economic predictions that left the human factor out of Budget equations. The lack of vision was often mentioned by the group.
In conclusion, the members of the group I spoke to conveyed powerful messages, but they felt that they were often ignored.
They wanted to see more hope, more optimism, less blame, and less simplistic stereotyping.
Beyond the leaks, the briefings, the projections, the pitch rolling and the financial crystal balls are real people with real lives to lead. Politicians would do well to remember that before becoming too wrapped up in the political theatre of the Budget.