Boris rolls out the same old tricks

The London mayor’s campaign against Ken Livingstone is nothing we haven’t seen before.

It's over three years since Boris Johnson first ran against Ken Livingstone for Mayor of London, but his new attack website suggests that almost nothing has changed in his approach to fighting the former mayor.

His old criticisms of Ken from 2008 are not so much trotted out as dragged out, nobbled and lifeless, on to the race course.

Livingstone's support for the unions, controversial left-wing politicians and Islam are all limped out, with multiple links to posts by Andrew Gilligan completing the Wadley-era Evening Standard feel.

To the surprise of approximately zero Londoners, we are told that Ken is a fan of Hugo Chávez, various Muslim leaders and the occasional junket. Who knew?

In fact, give or take a couple of references to Press TV and the fascinating subject of internal Labour Party politics in Tower Hamlets, the entire website could have been written back in 2008.

In this alternate universe, the past three years have never happened. And so, while Ken is attacked for his large numbers of press officers and his huge pay-offs to "cronies", Boris's large numbers of press officers and his huge pay-off to one of his own "cronies" fall down the memory hole.

Because the truth is that, while Boris campaigned against Livingstone's formula for being Mayor of London, it is a formula to which, by and large, he has kept.

So, Ken's international embassies, or "Kenbassies", as the Tories called them, have largely stayed, as have the travel concessions for young people that the Tories deemed so unacceptable just a few years ago.

Ken's staged battles with his own party leadership have been replaced with Boris's staged battles with Tory chiefs. And Ken's outrageous jokes and comments about totalitarian leaders have been replaced with Boris's outrageous jokes and comments about other totalitarian leaders.

Thus, in some ways, the antiquated feel of Boris's campaign website is entirely in keeping with the antiquated feel of Boris's mayoralty. Where Ken led, Boris has largely followed. And after almost three years, Boris has failed to point London in any discernibly new direction.

In the absence of such a new direction, no volume of attack websites will convince anybody that four more years of either candidate is anything to get too scared about.

Adam Bienkov is a blogger and journalist covering London politics and the mayoralty.

Adam Bienkov is a blogger and journalist covering London politics and the Mayoralty. He blogs mostly at

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Stability is essential to solve the pension problem

The new chancellor must ensure we have a period of stability for pension policymaking in order for everyone to acclimatise to a new era of personal responsibility in retirement, says 

There was a time when retirement seemed to take care of itself. It was normal to work, retire and then receive the state pension plus a company final salary pension, often a fairly generous figure, which also paid out to a spouse or partner on death.

That normality simply doesn’t exist for most people in 2016. There is much less certainty on what retirement looks like. The genesis of these experiences also starts much earlier. As final salary schemes fall out of favour, the UK is reaching a tipping point where savings in ‘defined contribution’ pension schemes become the most prevalent form of traditional retirement saving.

Saving for a ‘pension’ can mean a multitude of different things and the way your savings are organised can make a big difference to whether or not you are able to do what you planned in your later life – and also how your money is treated once you die.

George Osborne established a place for himself in the canon of personal savings policy through the introduction of ‘freedom and choice’ in pensions in 2015. This changed the rules dramatically, and gave pension income a level of public interest it had never seen before. Effectively the policymakers changed the rules, left the ring and took the ropes with them as we entered a new era of personal responsibility in retirement.

But what difference has that made? Have people changed their plans as a result, and what does 'normal' for retirement income look like now?

Old Mutual Wealth has just released. with YouGov, its third detailed survey of how people in the UK are planning their income needs in retirement. What is becoming clear is that 'normal' looks nothing like it did before. People have adjusted and are operating according to a new normal.

In the new normal, people are reliant on multiple sources of income in retirement, including actively using their home, as more people anticipate downsizing to provide some income. 24 per cent of future retirees have said they would consider releasing value from their home in one way or another.

In the new normal, working beyond your state pension age is no longer seen as drudgery. With increasing longevity, the appeal of keeping busy with work has grown. Almost one-third of future retirees are expecting work to provide some of their income in retirement, with just under half suggesting one of the reasons for doing so would be to maintain social interaction.

The new normal means less binary decision-making. Each choice an individual makes along the way becomes critical, and the answers themselves are less obvious. How do you best invest your savings? Where is the best place for a rainy day fund? How do you want to take income in the future and what happens to your assets when you die?

 An abundance of choices to provide answers to the above questions is good, but too much choice can paralyse decision-making. The new normal requires a plan earlier in life.

All the while, policymakers have continued to give people plenty of things to think about. In the past 12 months alone, the previous chancellor deliberated over whether – and how – to cut pension tax relief for higher earners. The ‘pensions-ISA’ system was mooted as the culmination of a project to hand savers complete control over their retirement savings, while also providing a welcome boost to Treasury coffers in the short term.

During her time as pensions minister, Baroness Altmann voiced her support for the current system of taxing pension income, rather than contributions, indicating a split between the DWP and HM Treasury on the matter. Baroness Altmann’s replacement at the DWP is Richard Harrington. It remains to be seen how much influence he will have and on what side of the camp he sits regarding taxing pensions.

Meanwhile, Philip Hammond has entered the Treasury while our new Prime Minister calls for greater unity. Following a tumultuous time for pensions, a change in tone towards greater unity and cross-department collaboration would be very welcome.

In order for everyone to acclimatise properly to the new normal, the new chancellor should commit to a return to a longer-term, strategic approach to pensions policymaking, enabling all parties, from regulators and providers to customers, to make decisions with confidence that the landscape will not continue to shift as fundamentally as it has in recent times.

Steven Levin is CEO of investment platforms at Old Mutual Wealth.

To view all of Old Mutual Wealth’s retirement reports, visit: products-and-investments/ pensions/pensions2015/