Thread: UK: Fat Cats & Winter of Discontent

Thanks Cy I must start drinking more as I find myself increasingly in concord with your posts.

A sober analysis of a sad situation.
Yet for more than a decade the English have voted for such inequality.
I do not foresee the Tory party , its backers the rich , its members or wannabee rich/Tories wishing to redistribute , they did not when there was growth and they certainly won't wish to feel the effects of the shrinking pie and the "Brexit bonus".
There is also a worship of a celebrity bling culture and very little praise of thrift, modesty or the Humanist, Methodist solidarity or Lutheran Quaker and Presbyterian virtues of make do and mend of my childhood. However the recession will see these as a necessity as easy credit evaporates and live with parents wearing hand me downs and 2nd hand iPhone becomes a reality for failed influencers.

UK is not unique in the huge of becoming a victim of its own welfare progs.

In my grandads era men worked 15-65 and on average were dead about 70 i.e. they paid in 50 and withdrew 5 a 10:1 ratio, in fact many did not even make pension age due to wars, heavy dangerous work and heavy smoking.

Today's young through no fault of their own probably leave full time study apprenticeship or college in early 20s and bar a few won't being paying substantial contributions bar 25-65 i.e. 40 years . Here's the rub, thanks to vaccines, expensive surgery and medicines life expectancy is up to nearer mid 80s . So folks pay in for about 40 but withdraw for 20 a very different ratio.

Another UK factor is the middle classes expect all tax payers to fund there end of life care even those with substantial assets which they wish to preserve for their heirs while renters and the poor fund part of their their care .Ros Altman has studies this in depth and is worth reading.

pensionsandsavings.com – Dr. Ros Altmann – my thoughts on pensions, savings, annuities, care, retirement and economics. I'm an independent expert and consultant and have advised consumer groups, Government, corporations, trustees and the pension industry..

The UK is not unique but the state pension is very low compared to many comparable European nations. Poorer GB pensioners no longer have the easy option of a cheap villa in the Med, where many spent a happy retirement in Spain Portugal Italy, France or Cyprus with equal access to health care. Those born in NI have the luxury to apply for a Republic of Ireland passport with full EU rights .