The Labour Government

[The Future’s Blue!]

Incredible just how obvious it is that austerity by one party is evil and if another party employs it then it's needed.

Where’s the austerity, you not seen the recent pay rises?

 

[The Future’s Blue!]

£10.3Bn per year back in the coffers from that, if they need £20Bn thats more than half way and I would suggest is palatable to most people. Scrapping the VAT exemption on private schools £1.7Bn per year and as I suggested earlier removing the VAT exemption for financial services which benefits the wealthy would raise a further £8.7Bn per year.

Piss easy this, thats £20.7Bn. No cuts or anything else needed. Restructure the payment of interest to commercial banks and that's another £11Bn per year.

https://neweconomics.org/2023/11/go...nglands-interest-payments-to-commercial-banks

So what are they all pissing about at.

Good calls. Still can’t understand the Tory giveaway, and they would never have contemplated what you’ve stated.

 

[urban genie]

Incredible just how obvious it is that austerity by one party is evil and if another party employs it then it's needed.

nope austerity by anyone is a failing of governance or vision.

 

[Vic]

There are a ton of people at my work sat waiting to retire in their late 50's/early 60s, they'll all leave on final salary pensions with houses already paid for, their houses will be worth 100x what they originally paid. They're probably debt free and don't have student loans to repay because they were free.

It's absolutely impossible that anybody working today will get those kind of benefits and that standard of living. People are talking up private pensions because the fact is workplace pensions alongside the state pension aren't going to be enough. And that's if they can even afford to put money into a private pension in the first place.

I keyed in mine recently and I only need to put in a measly extra £500pm to get a decent standard of living in retirement, and that's retiring at retirement age, not 60! My mortgage won't be paid off until I'm 65. My house will be my pension and unlike the oldies I'll probably have to sell it to get the income.

I can understand why some have little sympathy for the older folk. Young people are absolutely screwed, plain and simple.

Apart from describing £500pm as measly, I think you've explained why the older (Tory-voting) generation don't get much sympathy - most have never had it so good.

The issues are that many low-paid workers didn't really have that good an occupational pension - but good enough to mean they can't claim pension credit so will lose the WF allowance - and the social care issue that means the best laid retirement plans can be all but wiped out.

Finding a fair way to insure against the costs of care would be brilliant - but it would have to be done via taxes and it seems most people would rather pay less tax and risk the cost of care wiping out their savings and estate. (Though the complaints often come from the people who would have inherited the estate.)

 

[M18CTID]

There are a ton of people at my work sat waiting to retire in their late 50's/early 60s, they'll all leave on final salary pensions with houses already paid for, their houses will be worth 100x what they originally paid. They're probably debt free and don't have student loans to repay because they were free.

It's absolutely impossible that anybody working today will get those kind of benefits and that standard of living. People are talking up private pensions because the fact is workplace pensions alongside the state pension aren't going to be enough. And that's if they can even afford to put money into a private pension in the first place.

I keyed in mine recently and I only need to put in a measly extra £500pm to get a decent standard of living in retirement, and that's retiring at retirement age, not 60! My mortgage won't be paid off until I'm 65. My house will be my pension and unlike the oldies I'll probably have to sell it to get the income.

I can understand why some have little sympathy for the older folk. Young people are absolutely screwed, plain and simple.

Some good points but as always it won’t be as black and white as that.

Many people of pensionable age won’t have paid into a private pension scheme or had access to a company pension at their place of work so will only be getting the state pension.

Awareness of pensions - along with choice and accessibility - is a lot greater these days of course and while the workplace pension isn’t great as you quite rightly point out, someone paying into it from an early age - say 21 - could end up with a tidy sum come retirement age. We’ve got someone aged 17 who has just started at our place and I’ve advised him to start paying into a workplace pension as soon as he’s eligible to do so. I wish that option had been available to me when I started my first job 35 years ago but it wasn’t. On the flip side though, who knows if there will even be such a thing as a state pension in 30 or 40 years time? My suspicion is that that is why the workplace pension was introduced in the first place. Either that or the state pension age will be something stupid like 75.

 

[inbetween]

Apart from describing £500pm as measly, I think you've explained why the older (Tory-voting) generation don't get much sympathy - most have never had it so good.

Plenty of sarcasm in the measly amount :)

 

[Kirkstall Blue]

Younger people are not screwed by the older generation you are screwed by the people you elect to parliament most of whom see it as a job to make money. Successive governments are living like kings we only need one King MPs are there to do a job and manage the money fairly.

It’s down to every generation to fight for what they need, in the past a TV was the price of a years wages no one had a TV.or a car back then, I agree that the older generation bought a house but the mortgage rate was twice what it is now we paid for our house three times over.
The majority of pensioners won’t have that unless they bought their council house which was a thatcher decision. Now there’s none left for youngsters
Only if the tax rate goes back to what it was 90% in the 1950s and 60s will we be able to have a proper funded state health care pensions and council houses but no one wants to fight for 90% income tax on their wages so pensioners get what they deserve respect because they earned it.

 

[Eccles Blue]

I don’t want to get into arguments about this but please can the youngsters remember that things were very different when we old oldies started out. I was born before the NHS started for example and when I first started work at 15 pensions were the last thing on my mind.
Renting or council accommodation was our choice (only choice in most cases) and some firms still didn’t keep women on after marriage (some not all). When you had children lots of us gave up work to bring them up. There weren’t as many Nursery schools as today at all.
Eventually, when the children started school some women got part time jobs, again without pension facilities, although times were starting to change.
I’m not going into more detail but some, myself included, managed to get enough money to get a deposit for a house and mortgage.
In my early 30s with 4 children I managed to train to be a teacher and paid 6% of my salary into a pension.
I could write a lot more but just want people to think before they judge us old oldies. As I said in an earlier post I manage and I’m not pleading either poverty or wealth. I manage because my only real expense is a certain football team. :-)
We don’t want pity, we don’t want sympathy we would, well I would, just ask the remembrance that times have changed.
Nobody really supports me except me. By that I mean I am not asking for anything from the Government except fairness.
Thank you for reading this ‘essay’ and I apologise for having to say it but I really dislike it when Blue judges Blue as if everyone is in the same boat with the same problems.

Sorry. :-) :-)

 

[The Future’s Blue!]

I don’t want to get into arguments about this but please can the youngsters remember that things were very different when we old oldies started out. I was born before the NHS started for example and when I first started work at 15 pensions were the last thing on my mind.
Renting or council accommodation was our choice (only choice in most cases) and some firms still didn’t keep women on after marriage (some not all). When you had children lots of us gave up work to bring them up. There weren’t as many Nursery schools as today at all.
Eventually, when the children started school some women got part time jobs, again without pension facilities, although times were starting to change.
I’m not going into more detail but some, myself included, managed to get enough money to get a deposit for a house and mortgage.
In my early 30s with 4 children I managed to train to be a teacher and paid 6% of my salary into a pension.
I could write a lot more but just want people to think before they judge us old oldies. As I said in an earlier post I manage and I’m not pleading either poverty or wealth. I manage because my only real expense is a certain football team. :-)
We don’t want pity, we don’t want sympathy we would, well I would, just ask the remembrance that times have changed.
Nobody really supports me except me. By that I mean I am not asking for anything from the Government except fairness.
Thank you for reading this ‘essay’ and I apologise for having to say it but I really dislike it when Blue judges Blue as if everyone is in the same boat with the same problems.

Sorry. :-) :-)

Succinctly put and we all should be supporting you as you supported us.

We are all in the same boat and all need a safety net when things go wrong.

 

[Vic]

I don’t want to get into arguments about this but please can the youngsters remember that things were very different when we old oldies started out. I was born before the NHS started for example and when I first started work at 15 pensions were the last thing on my mind.
Renting or council accommodation was our choice (only choice in most cases) and some firms still didn’t keep women on after marriage (some not all). When you had children lots of us gave up work to bring them up. There weren’t as many Nursery schools as today at all.
Eventually, when the children started school some women got part time jobs, again without pension facilities, although times were starting to change.
I’m not going into more detail but some, myself included, managed to get enough money to get a deposit for a house and mortgage.
In my early 30s with 4 children I managed to train to be a teacher and paid 6% of my salary into a pension.
I could write a lot more but just want people to think before they judge us old oldies. As I said in an earlier post I manage and I’m not pleading either poverty or wealth. I manage because my only real expense is a certain football team. :-)
We don’t want pity, we don’t want sympathy we would, well I would, just ask the remembrance that times have changed.
Nobody really supports me except me. By that I mean I am not asking for anything from the Government except fairness.
Thank you for reading this ‘essay’ and I apologise for having to say it but I really dislike it when Blue judges Blue as if everyone is in the same boat with the same problems.

Sorry. :-) :-)

Sorry, but I suspect your rent wasn't half what you earned. And married women could give up work to raise a family because one average wage was enough to get a mortgage on a house that didn't cost ten times annual salary.

And if you have a teacher's pension, and state pension (at 65), and no housing costs, and £10 to travel anywhere in Greater Manchester , how would you not manage?