Saga lashes out at Bank’s QE

Saga warned yesterday of increased inflation and damaged pensions if quantitive easing (QE) continues, arguing that it is not as effective in boosting the economy as originally intended. Saga chief Ros Altmann called on the government to minimise the damage of QE on pensions and find alternatives for boosting the economy. The comments come after the release of a Treasury Select Committee report on QE’s effect on pensioners. “Buying gilts with newly created money is a recipe for more disaster... and merely shifts the pain of over indebtedness forwards and sideways across generations,” it said.