| Has Burnham focussed yet on the National debt? 23:07 - Aug 6 with 12690 views | ReslovenSwan1 |
With out doubt one of the biggest issues is national debt. It is currently hitting £3 Trillion. (A Trillion is a thousand billion.) £3,000,000,000,000. For each citizen the debt is £43,000 and growing.
The debt really kicked on after the £500 billion bankers bail out of 2009 when it was less than £1 Trillion.
The second spike was the Covid related borrowing for furlough and infrastructure etc 2020 -2021.
https://commonslibrary.parliam
I do not know what Burnham's priorities are but if it is not reducing the deficit and then debt then he is just fiddling on the roof while the house burns beneath him.
When Starmer tried to trim the budget his Chancellor was seen sobbing n the House of Commons after folding to MP pressure. He has no election for 3 years so should take unpopular decisions and cut the deficit first and then the debt.
Reform and Plaid in the Senedd is concentrating on Gender definition. If Wales went independent our share of the debt would be £150 billion. (5% of the total debt)
UK interest payment of this debt annually is £110 billion. (including my premium bond winnings)
[Post edited 6 Aug 23:13]
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| Has Burnham focussed yet on the National debt? on 19:38 - Sep 23 with 380 views | Gwyn737 |
| Has Burnham focussed yet on the National debt? on 19:13 - Sep 23 by max936 |
We were never young and paying into the system see Rayns, 
This lot today call us boomers whatever TF means, I started work and paying into the system at 16 and here I am at 65 still working and paying into the same system.
Yeah we don't deserve a penny |
Nobody is saying you didn’t.
I’m saying the demographic of pensioners you supported is very different to where we are now. Needs to change.
We need to address the benefits culture too but both things can be true. |  | | |
| Has Burnham focussed yet on the National debt? on 20:00 - Sep 23 with 350 views | AnotherJohn |
| Has Burnham focussed yet on the National debt? on 17:58 - Sep 23 by Dr_Winston |
Agree completely with this. The messaging around Pensions should have been changed decades ago, but Governments have all been scared to.
It is a benefit. Paid for out of general taxation rather than any "pot". I'd argue that there should indeed be a pot, or Sovereign Wealth Fund, or whatever you want to call it, where people's pension contributions are paid. Get this money out there earning and growing rather than just disappearing into the abyss.
If the average worker's NI contributions (both theirs and their employers) had been paid into an average pension fund between 1980 & 2020 instead of just going into Government funds they'd have a pot of easily over £500k, potentially much higher. So that's a pension significantly higher than the current SP, and also one that the Govt doesn't have to fund. |
That is the classic social insurance system - the Bismarck system that much of Western Europe adopted, sometimes with tweaks. Over time, the difference with the UK system has narrowed as people who did not make employment-based contributions (family members, the sick, the unemployed) were included as beneficiaries and some funds received government subsidies to help with the additional burden. But there are still real insurance funds, separate from public budgets. Of course Beveridge's wartime plan was to copy the social insurance model, but the post-war Labour Government decided that a tax rather than contributions-funded route was better, and NICs were set up in such a way that they were really an additional tax. Should we blame Nye Bevan? | | | |
| Has Burnham focussed yet on the National debt? on 20:01 - Sep 23 with 347 views | max936 |
| Has Burnham focussed yet on the National debt? on 16:42 - Sep 23 by raynor94 |
Us pesky pensioners are hanging about for far to long we all had a far to easy life see |
Innit, married at 22 in 1983 mortgaged up, it was 10 yrs before our eldest due to a few different things big one was cost of starting a family, had to move when youngest was born because we need to build facilities for him, so we needed a bigger plot, was paying a meagre amount into pension and general saving wasn't an option.
Millions of others in similar positions, started on £16 with a cheeky fiver as a bonus a week at 16 as an apprentice, rolling in pounds shelling and pence I was  |  | | |
| Has Burnham focussed yet on the National debt? on 20:04 - Sep 23 with 342 views | Gwyn737 |
| Has Burnham focussed yet on the National debt? on 20:00 - Sep 23 by AnotherJohn |
That is the classic social insurance system - the Bismarck system that much of Western Europe adopted, sometimes with tweaks. Over time, the difference with the UK system has narrowed as people who did not make employment-based contributions (family members, the sick, the unemployed) were included as beneficiaries and some funds received government subsidies to help with the additional burden. But there are still real insurance funds, separate from public budgets. Of course Beveridge's wartime plan was to copy the social insurance model, but the post-war Labour Government decided that a tax rather than contributions-funded route was better, and NICs were set up in such a way that they were really an additional tax. Should we blame Nye Bevan? |
There’s a case but I’d say hindsight is a wonderful thing. | | | |
| Has Burnham focussed yet on the National debt? on 20:04 - Sep 23 with 341 views | Gwyn737 |
| Has Burnham focussed yet on the National debt? on 20:01 - Sep 23 by max936 |
Innit, married at 22 in 1983 mortgaged up, it was 10 yrs before our eldest due to a few different things big one was cost of starting a family, had to move when youngest was born because we need to build facilities for him, so we needed a bigger plot, was paying a meagre amount into pension and general saving wasn't an option.
Millions of others in similar positions, started on £16 with a cheeky fiver as a bonus a week at 16 as an apprentice, rolling in pounds shelling and pence I was |
Tbf there’s not much chance of buying a house at 22 today. | | | |
| Has Burnham focussed yet on the National debt? on 20:53 - Sep 23 with 325 views | Boundy |
| Has Burnham focussed yet on the National debt? on 16:54 - Sep 23 by Gwyn737 |
It's not a blame thing, it's circumstance.
I don't think anyoune could have seen the falling birth rate and the effect it has.
Things are hard for young people now and again I'm not blaming but the fact remains that it's them that are having to pay for pensions.
I don't see a lot of sypathy for those hard working yougsters and there are plenty of them. |
I'm still paying tax dispite being retitred , I was taxed on my income which contributed to my state and private pension and there s no way on gods earth will I ever feel guilty for having the two . I did without whilst working to provide for my retirement. At 70 I like a lot of other pensioners are paying taxes still contributing towards other peoples pensions , you don't hear us complaining.
You say young people have it tough that depends on what you class as being a necessity these days to live, how many kids these days are driving around in newish BMWs or Audis , the latest Iphone or two holidays a year etc , poverty has always existed and thats the beauty of capitalism in that it gives the opportunity to better yourself ,
so don't think its only todays youngsters who have ever worked hard , manual work is a dirty word for a lot these days. I could never afford a new car or go on holidays abroad until my kids had grown up and my wife then only started to work because we belived that if you couldn't afford kids then don't have them and not rely on the state to support you. | |
| "In a free society, the State is the servant of the people—not the master." |
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| Has Burnham focussed yet on the National debt? on 21:05 - Sep 23 with 316 views | Gwyn737 |
| Has Burnham focussed yet on the National debt? on 20:53 - Sep 23 by Boundy |
I'm still paying tax dispite being retitred , I was taxed on my income which contributed to my state and private pension and there s no way on gods earth will I ever feel guilty for having the two . I did without whilst working to provide for my retirement. At 70 I like a lot of other pensioners are paying taxes still contributing towards other peoples pensions , you don't hear us complaining.
You say young people have it tough that depends on what you class as being a necessity these days to live, how many kids these days are driving around in newish BMWs or Audis , the latest Iphone or two holidays a year etc , poverty has always existed and thats the beauty of capitalism in that it gives the opportunity to better yourself ,
so don't think its only todays youngsters who have ever worked hard , manual work is a dirty word for a lot these days. I could never afford a new car or go on holidays abroad until my kids had grown up and my wife then only started to work because we belived that if you couldn't afford kids then don't have them and not rely on the state to support you. |
Easy credit is a problem, I agree.
The big problem is housing. Max’s 1983 example (and I’m in no way disparaging how hard he worked or sacrifices he made) was at a time when houses were 3x the average wage. That figure is now 7 times.
Realistically without the bank of mum and dad, home ownership for many is a pipe dream.
It must feel pretty hopeless at times. | | | |
| Has Burnham focussed yet on the National debt? on 21:07 - Sep 23 with 316 views | max936 |
| Has Burnham focussed yet on the National debt? on 20:53 - Sep 23 by Boundy |
I'm still paying tax dispite being retitred , I was taxed on my income which contributed to my state and private pension and there s no way on gods earth will I ever feel guilty for having the two . I did without whilst working to provide for my retirement. At 70 I like a lot of other pensioners are paying taxes still contributing towards other peoples pensions , you don't hear us complaining.
You say young people have it tough that depends on what you class as being a necessity these days to live, how many kids these days are driving around in newish BMWs or Audis , the latest Iphone or two holidays a year etc , poverty has always existed and thats the beauty of capitalism in that it gives the opportunity to better yourself ,
so don't think its only todays youngsters who have ever worked hard , manual work is a dirty word for a lot these days. I could never afford a new car or go on holidays abroad until my kids had grown up and my wife then only started to work because we belived that if you couldn't afford kids then don't have them and not rely on the state to support you. |
Great post Boundy, some only see what they want to see, health and Safety was a swear word back in my time, it always existed with a nod and a wink, started getting serious around mid 80's I think, you couldn't move for it in my years in Tata, needed a permit to go for a dump [Post edited 23 Sep 22:06]
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| Has Burnham focussed yet on the National debt? on 21:37 - Sep 23 with 300 views | Dr_Winston |
| Has Burnham focussed yet on the National debt? on 20:00 - Sep 23 by AnotherJohn |
That is the classic social insurance system - the Bismarck system that much of Western Europe adopted, sometimes with tweaks. Over time, the difference with the UK system has narrowed as people who did not make employment-based contributions (family members, the sick, the unemployed) were included as beneficiaries and some funds received government subsidies to help with the additional burden. But there are still real insurance funds, separate from public budgets. Of course Beveridge's wartime plan was to copy the social insurance model, but the post-war Labour Government decided that a tax rather than contributions-funded route was better, and NICs were set up in such a way that they were really an additional tax. Should we blame Nye Bevan? |
People who have never paid into the system should not get pensions.
As it stands you can get away with not contributing a penny and be only a couple of quid worse off than someone who has paid a lifetime of NI. There are people who have arrived in the UK within the last five years getting a pension topped up with pension credit. That needs to stop.
Those who have been unable to work due to serious disability should be able to continue claiming an existing benefit, but not a pension. |  |
| Pain or damage don't end the world. Or despair, or f*cking beatings. The world ends when you're dead. Until then, you got more punishment in store. Stand it like a man... and give some back. |
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| Has Burnham focussed yet on the National debt? on 22:12 - Sep 23 with 270 views | max936 |
| Has Burnham focussed yet on the National debt? on 21:37 - Sep 23 by Dr_Winston |
People who have never paid into the system should not get pensions.
As it stands you can get away with not contributing a penny and be only a couple of quid worse off than someone who has paid a lifetime of NI. There are people who have arrived in the UK within the last five years getting a pension topped up with pension credit. That needs to stop.
Those who have been unable to work due to serious disability should be able to continue claiming an existing benefit, but not a pension. |
Read a piece today that a mother of 8 can claim nearly 22k in benefits, yet a pensioner who worked all their life is expected to survive on 12.5k if that.
Nobody wants to see kiddies go without but that's a huge amount of money and in some cases you have to wonder our much of that 22k do the actual kids get spent on them. | | | |
| Has Burnham focussed yet on the National debt? on 07:32 - Sep 24 with 206 views | Dr_Winston |
| Has Burnham focussed yet on the National debt? on 22:12 - Sep 23 by max936 |
Read a piece today that a mother of 8 can claim nearly 22k in benefits, yet a pensioner who worked all their life is expected to survive on 12.5k if that.
Nobody wants to see kiddies go without but that's a huge amount of money and in some cases you have to wonder our much of that 22k do the actual kids get spent on them. |
Have to be careful here, but £22k is low in some cases that I am aware of. | |
| Pain or damage don't end the world. Or despair, or f*cking beatings. The world ends when you're dead. Until then, you got more punishment in store. Stand it like a man... and give some back. |
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| Has Burnham focussed yet on the National debt? on 08:12 - Sep 24 with 199 views | Whiterockin |
| Has Burnham focussed yet on the National debt? on 21:37 - Sep 23 by Dr_Winston |
People who have never paid into the system should not get pensions.
As it stands you can get away with not contributing a penny and be only a couple of quid worse off than someone who has paid a lifetime of NI. There are people who have arrived in the UK within the last five years getting a pension topped up with pension credit. That needs to stop.
Those who have been unable to work due to serious disability should be able to continue claiming an existing benefit, but not a pension. |
Serious question here because I don't know the answer. How will the number of people coming from abroad legally/illegally affect the pension/benefits system long term. |  | | |
| Has Burnham focussed yet on the National debt? on 08:22 - Sep 24 with 194 views | Dr_Winston |
| Has Burnham focussed yet on the National debt? on 08:12 - Sep 24 by Whiterockin |
Serious question here because I don't know the answer. How will the number of people coming from abroad legally/illegally affect the pension/benefits system long term. |
AFAIK, once you have "legal" status in the UK via whatever means (Refugee status, ILR etc) you have full access to the benefit system, including pensions and pension credit.
I've never worked in Pensions so there may be technicalities that I'm not aware of, but that's my understanding of it. | |
| Pain or damage don't end the world. Or despair, or f*cking beatings. The world ends when you're dead. Until then, you got more punishment in store. Stand it like a man... and give some back. |
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| Has Burnham focussed yet on the National debt? on 08:53 - Sep 24 with 178 views | raynor94 |
| Has Burnham focussed yet on the National debt? on 21:05 - Sep 23 by Gwyn737 |
Easy credit is a problem, I agree.
The big problem is housing. Max’s 1983 example (and I’m in no way disparaging how hard he worked or sacrifices he made) was at a time when houses were 3x the average wage. That figure is now 7 times.
Realistically without the bank of mum and dad, home ownership for many is a pipe dream.
It must feel pretty hopeless at times. |
Plenty of houses around Swansea for 100-120k surely a mortgage for that is cheaper than renting |  |
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| Has Burnham focussed yet on the National debt? on 09:04 - Sep 24 with 171 views | Whiterockin |
| Has Burnham focussed yet on the National debt? on 08:22 - Sep 24 by Dr_Winston |
AFAIK, once you have "legal" status in the UK via whatever means (Refugee status, ILR etc) you have full access to the benefit system, including pensions and pension credit.
I've never worked in Pensions so there may be technicalities that I'm not aware of, but that's my understanding of it. |
So someone gets legal status and can bring family over including parents to claim a pension and pension credit, never having contributed. | | | |
| Has Burnham focussed yet on the National debt? on 09:31 - Sep 24 with 162 views | Boundy |
| Has Burnham focussed yet on the National debt? on 09:04 - Sep 24 by Whiterockin |
So someone gets legal status and can bring family over including parents to claim a pension and pension credit, never having contributed. |
yep and those in the 67 yo + bracket are the problem FFS.
Its not the pensioners who are the problem its the woke system which allows the extended family of non uk citizens a piece of the action . | |
| "In a free society, the State is the servant of the people—not the master." |
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| Has Burnham focussed yet on the National debt? on 13:05 - Sep 24 with 123 views | Gwyn737 |
| Has Burnham focussed yet on the National debt? on 08:53 - Sep 24 by raynor94 |
Plenty of houses around Swansea for 100-120k surely a mortgage for that is cheaper than renting |
I think most will stil be living at home.
Swansea may be ok for houses of that value but many places aren't. [Post edited 24 Sep 14:11]
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| Has Burnham focussed yet on the National debt? on 13:29 - Sep 24 with 108 views | raynor94 |
| Has Burnham focussed yet on the National debt? on 09:04 - Sep 24 by Whiterockin |
So someone gets legal status and can bring family over including parents to claim a pension and pension credit, never having contributed. |
761 arrived here yesterday and yet the triple lock is the thing that is unsustainable | |
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| Has Burnham focussed yet on the National debt? on 13:53 - Sep 24 with 99 views | Whiterockin |
| Has Burnham focussed yet on the National debt? on 13:05 - Sep 24 by Gwyn737 |
I think most will stil be living at home.
Swansea may be ok for houses of that value but many places aren't. [Post edited 24 Sep 14:11]
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Possibly the reason so many English retire to Wales. | | | |
| Has Burnham focussed yet on the National debt? on 14:58 - Sep 24 with 83 views | Dr_Winston |
| Has Burnham focussed yet on the National debt? on 13:53 - Sep 24 by Whiterockin |
Possibly the reason so many English retire to Wales. |
Uncle of a guy I know retired after 40 years working as an engineer on the Tube. Sold his house in London, bought a four bed detached in Penclawdd and still had about £250,000 left over. | |
| Pain or damage don't end the world. Or despair, or f*cking beatings. The world ends when you're dead. Until then, you got more punishment in store. Stand it like a man... and give some back. |
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| Has Burnham focussed yet on the National debt? on 16:27 - Sep 24 with 43 views | Wingstandwood |
| Has Burnham focussed yet on the National debt? on 14:58 - Sep 24 by Dr_Winston |
Uncle of a guy I know retired after 40 years working as an engineer on the Tube. Sold his house in London, bought a four bed detached in Penclawdd and still had about £250,000 left over. |
Vey common nowadays, born and bred Londoners are moving out of the place in droves, happened with relatives of mine who left London to go to Essex. There appears to be more born and bred Cockney's living in Essex these days than there are in Newham.
A grandchild has moved to Australia. Wales, Essex, English South Coast and (for youngsters) Australia seems to be very popular.
Saying you lived in London used to come with bragging rights, not anymore!
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