The Isle of Man is scrapping its version of the triple lock on pensions due to affordability concerns, affecting residents who reached state pension age after April 5, 2019. The change introduces a watered down version of the UK’s state pension triple lock, with treasury minister Dr Alex Allinson emphasizing that increased contributions should not burden workers and businesses. In contrast, UK Conservative leader Kemi Badenoch suggested means-testing the UK’s triple lock, sparking criticism from Labour opponents, who argue that starting with means testing is not the solution to the pension fund problem.
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Brussels proposes revamp of controversial securitisation rules
The European Commission has proposed revisions to EU debt securitisation rules to reduce capital charges for banks and streamline regulations, aiming to invigorate the securitisation market and boost economic competitiveness. While the changes, including lowering risk weights and simplifying investor obligations, are intended to enhance funding availability, critics argue they may compromise financial stability and international standards established post-2008 crisis. Need More Context? 🔎
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