Notice of Motion Submitted by Councillor Sir Ron Watson
To consider the following Motion submitted by Councillor Sir Ron Watson:
"The Council:
1. recognises the many representations, elected members have had from local pensioners over the changes to their tax allowances in the Budget and considers that the Coalition Government urgently needs to review their policy in this area with the aim of reinstating the previous allowance figure;
2. considers that pensioners in particular, have been the one group of society most badly hit by the unprecedented levels of low interest rates that have drastically reduced their retirement incomes from their hard earned savings;
3. believes that the Coalition Government should alter the tax free ISA provision to allow the current maximum figure of
£ 11,280.00 to be invested in a Cash Isa, as opposed to the current situation where half has to be invested in what can be a risky stock exchange situation; and
4. requests the Coalition Government to address these issues in the Chancellors Autumn Statement"
Minutes:
It was moved by Councillor Sir Ron Watson, seconded by Councillor Cuthbertson.
“The Council:
(1) recognises the many representations, elected members have had from local pensioners over the changes to their tax allowances in the Budget and considers that the Coalition Government urgently needs to review their policy in this area with the aim of reinstating the previous allowance figure;
(2) considers that pensioners in particular, have been the one group of society most badly hit by the unprecedented levels of low interest rates that have drastically reduced their retirement incomes from their hard earned savings;
(3) believes that the Coalition Government should alter the tax free ISA provision to allow the current maximum figure of £11,280.00 to be invested in a Cash ISA, as opposed to the current situation where half has to be invested in what can be a risky stock exchange situation; and
(4) requests the Coalition Government to address these issues in the Chancellor’s Autumn Statement.”
An amendment was moved by Councillor P. Dowd, seconded by Councillor Maher that the Motion be amended by deleting all the text in Paragraph 3 after the words “should alter” and replacing it with: “the provisions in their budget which have a detrimental effect on the finances of pensioners.”
Following debate thereon, on a show of hands, the Mayor declared that the amendment was carried by 35 votes to 26.
On a show of hands, the Mayor declared that the Substantive Motion was carried by 35 votes to 25 with one abstention and it was
RESOLVED:
The Council:
(1) recognises the many representations, Elected Members have had from local pensioners over the changes to their tax allowances in the Budget and considers that the Coalition Government urgently needs to review their policy in this area with the aim of reinstating the previous allowance figure;
(2) considers that pensioners in particular, have been the one group of society most badly hit by the unprecedented levels of low interest rates that have drastically reduced their retirement incomes from their hard earned savings;
(3) believes that the Coalition Government should alter the provisions in their budget which have a detrimental effect on the finances of pensioners; and
(4) requests the Coalition Government to address these issues in the Chancellor’s Autumn Statement.