Tuesday, May 05, 2009
Work harder for longer or leave the UK
Telegraph: Britons face working until 70 to help bring public debt under control
Britons will have to work until the age of 70, at least five years beyond the current retirement age, if the Government is to stand any hope of bringing public debt under control over the next decade, a report by the National Institute for Economic and Social Research claims.
Posted by enuii @ 10:58 PM (510 views) Add Comment
10 Comments
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1. paul said...
I love hearing the rhetoric of how long we'll have to work until we're 70 when most folks find themselves out of work past around 55.
2. drewster said...
Paul,
Look at what happens in Japan. People hit 55 and lose their cushy salaried jobs. Then they have to flip burgers and scrub floors for the next 20 years of their lives.
3. Baudot said...
Private sector employees will be forced to work to at least 70 to continue funding unrealistic public sector pensions.
4. paul said...
Enough with the parallels with Japan!
People in cushy salaried jobs in Japan generally stay there until they keel over. The problem is that temp workers now make up 45% of the workforce there, so its everyone else who is suffering, not the salaried workers.
5. bidin'matime said...
Forget 70 - people will be working till they drop.
6. lenny said...
B@lls to working longer, I got made redundant for the 4th time at age of 48 and enough was enough. With all our friends from Eastern Europe over here the jobcentre only had minimum-wage jobs that could not cover our living expenses and I didn't want to go through the rigmarole of claiming benefits or tax credits so we upped and left and now divide my time between trading desk and the beach which is a mile from our house.
I did love living in the UK until recently but sorry, I can only see things going in one direction at present and probably for the next 5 years too.
7. alan said...
Paul, the local Ford offices have just offered voluntary redundancy targetting over 55's. Take it or maybe get compulsory redundancy terms. Where are my mates going to get re-employed? The local Pizza shop wants a driver on fridays, saturdays!
The other options from NIESR were more tax or cuts (in NHS, Education, Social Services, etc).
What a good idea to leave all the hard choices till after the election, (LoL). This way NuLabour can have a pre-election slanging match with anyone trying for a degree of austerity and claim NuLab are the guardians of Britain's poorer classes.
The truth would be that Gordo was at fault....but we've already covered that one...
House Prices are unlikely to reach the dizzy heights of 2007 anytime soon. More like a gradual decline once we start putting up interest rates to pay for all the debt.
8. crunchy said...
5. lenny
That's the Bulldog spirit mate!
Sounds to me like a lot of toe dipping. lol Hats off to you for doing something about it instead of whingeing.
9. Lenny said...
post 8, crunchy
and the water is warm, LOL
10. crunchy said...
9. Lenny
Watch those sharks and cut your loses when you know when to, and you will stay afloat. Good hunting!