Pensioner bankruptcy up by 164%

Thanks to this government’s profligacy, its increasing demands placed on councils causing council tax to soar, and low interest rates, pensioners are increasingly unable to make ends meet. Consequently, 2,595 pensioners went bankrupt in 2008. Rising inflation put more pressure on pensioners, whose disposable incomes were mostly spent on essentials, such as food and utility bills.

Wilkins Kennedy accountants analysed figures from the Insolvency Service, concluding that bankruptcies among pensioners rose at more than double the rate of all other age groups.

Pensioners are particularly vulnerable to rising costs as they rely on fixed incomes and interest on their savings. Most often, their disposable incomes are so low that the smallest of rises in the basic cost of living can easily put them in the red.

This government has treated pensioners abominably and I trust they will reap the revenge of the silver class at the general election – a very sizeably proportion of the population.

Read the full story.

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