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Lend The Unemployed Money To Stop Them Getting Into Debt

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The Guardian

Under the plan – called "national salary insurance" and developed by the IPPR thinktank – people with sufficient national insurance contributions would be entitled to receive up to 70% of their previous income, capped at £200 a week, for a period of up to six months, to help prevent them falling off a financial "cliff edge"

A good idea to encourage work and prevent people getting into trouble, but wait ...

Plans for a student-loan-style welfare reform – under which people who lose their jobs could receive higher benefits, then repay the extra when they return to work

...

it is believed the costs would be limited because most people return to work within six months and, under the system, would start paying money back

So, lend them money to stop them getting into debt. Fantastic idea! We all need more debt! Gold star for Labour. The only sliver of hope I can see to rescue this policy is:

While sources said arguments about "upfront costs" would have to be thrashed out and no decisions had been finalised

So details may change.

How long would it be after this comes in that for the first 6 months of unemployment the ONLY benefit available will be this loan therefore essentially removing the benefits system for the short term unemployed?

What a bunch of tuckwits.

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why just 6 months?...make it a lifelong loan...a sort of student loan for life...only pay it back when you earn enough.

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They would lend some dregs knowingly never expecting to get it paid back as long as they can help themselves to twice as much or more for themselves....deal. ;)

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Capped at £200/week ...

So another one that leaves homeowners well provided for, but renters with ***-all. Better rush out and buy that house before losing your job.

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My take:- More evidence that the government is in thrall to the bankers. Banks love people to be in debt, ideally just paying off the minimum repayment for the whole of their lives.

Paying interest to money lenders for life is like paying rents to unencumbered land owners.......free money created by other peoples hard work.

How can you get from being the constant payer to being the perpetual receiver? ;)

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That will really incentivise work!

I think you should provide unemployed people with as many disincentives to return to work as possible, this idea is double plus good

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Labour introduced repayable benefits. Tax credits have to be repaid if you earn more (which is why people never do more hours than their set amount these days)

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So the question has to be asked what are the national insurance contributions for, they are linking this policy to the amount you have paid in and then expecting it to be paid back. Talk about having your cake and eating it.

What happens to those who haven't paid enough ?

Roll on the revolution, the alternative is slavery.

Edited by Ulfar

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My take:- More evidence that the government is in thrall to the bankers. Banks love people to be in debt, ideally just paying off the minimum repayment for the whole of their lives.

This is the game

Every headline scheme for the road to recovery involves pushing more debt on to the public, a debt problem is never going to be solved by more debt unless the ones issuing that debt are the ones with the debt problem

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Of course it would be too radical for people to just SAVE SOME F****** MONEY so they could survive a few months without work.

....they don't want slaves saving.......they want them working to keep the wheels turning and the privileged to continue living in the manner they have become accustomed to living........that will not be given up without a fight.

If you can't beat 'em. ;)

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Why don't they just hold their hands up and give people money to spend, they know they want to.....10m spending all their money must do far more to the economy than 10 multi millionaires with so much money tied up in assets they don't know what to spend it on so they don't, they sit on it without a care in the world accumulating more without having to lift a finger. ;)

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Why don't they just hold their hands up and give people money to spend, they know they want to.....10m spending all their money must do far more to the economy than 10 multi millionaires with so much money tied up in assets they don't know what to spend it on so they don't, they sit on it without a care in the world accumulating more without having to lift a finger. ;)

They don't want too though, those at the top want ALL the money without having to lift a finger, they want everyone else to work for their benefit.

Debt slavery is the chosen method, which only works while the majority at the bottom live in fear of the results of speaking out or not playing the game. Some criminals have worked it out they steal what they want, when they get caught they get housed and fed for free.

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why just 6 months?...make it a lifelong loan...a sort of student loan for life...only pay it back when you earn enough.

They shoot themselves in the foot

They acknowledge they are taking money off you through National insurance for life

- then want to charge you it again as a loan - feckwits.:rolleyes:

You can just see all those foreign 'imports' lining up to pay these loans back too!

Many from The BALKANS area - Kagan, Jerusalem of Europe etc people behind this!

Edited by erranta

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Of course it would be too radical for people to just SAVE SOME F****** MONEY so they could survive a few months without work.

The whole point of having a 'flexible' workforce is to make sure they don't earn enough to save any money in the first place- after all we don't want them 'pricing themselves out of a job' do we. We need to compete with the cheapest workers on the planet, not indulge ourselves by paying wages that allow savings.

But this idea is a complete joke by labour- a desperate effort to somehow get on the 'right' side of the welfare debate without alienating their union backers.

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  • 242 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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