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spyguy

In Work Poverty

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Worthy of a separate thread.

Big fuss on the radio.

http://www.bbc.co.uk/news/business-38228822

Woman from Joseph Rowntree Foundation.

Mentioning high levels of PRS rents.

Saying the last 10 years have seen people who start in low paying jobs, stay in low paying jobs.

50% of poor houses holds are in work (So that means 50% arn't working?)

My opintion?

Its all Gorddy the useless stnuc chickens coming home to roost. Still.

Massive bank credit boom, inflated housing.

Tax credits dragging half the working population from FT low and medium paid jobs into very low skilled part-time jobs.

I remember that pr1cks Browns Millennium Debt relief - providing relief for highly in debt countries.

Due to Brown, the UK is heading to the levels of debt he was so keen to right off.

Anyone thought of tapping up Africa?

 

 

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Working tax credits are a massive subsidy of big business and corporations. It they cannot pay staff enough to enable them to feed, clothe and house themselves, they really should not be in business.  Why should the tax payer (and the printing press of course) have to subsidise large business whose executives earn more in a year than many won't reach in their lifetime 

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1 hour ago, One-percent said:

Working tax credits are a massive subsidy of big business and corporations. It they cannot pay staff enough to enable them to feed, clothe and house themselves, they really should not be in business.  Why should the tax payer (and the printing press of course) have to subsidise large business whose executives earn more in a year than many won't reach in their lifetime 

What about companies whose wages were enough before house prices went crazy?  Are we subsidizing them or the housing market? 

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Quote

“Failures in the housing market are a significant driver of poverty,” the study said. “This is primarily, but not entirely, due to costs.”

Housing insecurity is also a factor, the authors found. The number of evictions by private landlords has risen by 60% over five years to 37,000 annually, it said, while over the same period mortgage repossessions have fallen from 23,000 to 3,300.

Among those in the bottom 20% of the income bracket who live in private rented homes, 73% pay more than a third of their income in rent, the report said, compared with 50% of social renters and 28% of owner occupiers who do so.

The number of private renters living in poverty has doubled over the past decade, the data showed, meaning there are now as many private renters in poverty as social renters.

https://www.theguardian.com/society/2016/dec/07/study-finds-7m-britons-in-poverty-despite-being-from-working-families

 

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1 minute ago, Fairyland said:

MSM collectively reporting on high rents, housing crisis and in work poverty. What next?

HPC / Rent Control 

Ill tie that up for you:

Realignment of housing/rent to earnings.

Housing cost determined by what people earn rather than what now bust banks would lend them.

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2 minutes ago, spyguy said:

Ill tie that up for you:

Realignment of housing/rent to earnings.

Housing cost determined by what people earn rather than what now bust banks would lend them.

Is that called sanity?

Bring it on ... whatever.  It is high time housing needs to be regulated one way or the other.

Edited by Fairyland

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Question: Assuming rent control will demolish PRS further where will the masses go? Do HAs have enough stock to house the current PRS mob? 

Will HAs/TpTB

1) Purchase unsaleable new builds

2) PRS released by amateur investors (of course at a discounted price) to bail them out.

Edited by Fairyland

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1 minute ago, Fairyland said:

Is that called sanity?

Bring it on ... whatever.  It is high time housing needs to be regulated one way or the other.

Gordon Brown. Chancellor/PM for ~14 years.

Fcked up economy for 50 years.

I know I sound like an echo but Browns at the root of everything wrong in the UK. It all comes back to that loon.

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1 hour ago, cool_hand said:

this has truly got of control now and only a 'hard' reset can correct the problem.

But what do you mean by that?

Increasingly I can't see any change happening that helps the cash rich as they are in the minority. The reset may just help those feckless that loaded up on debt and screw the 0.1% of people that bothered to save.

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4 hours ago, spyguy said:

Worthy of a separate thread.

Big fuss on the radio.

http://www.bbc.co.uk/news/business-38228822

Woman from Joseph Rowntree Foundation.

Mentioning high levels of PRS rents.

Saying the last 10 years have seen people who start in low paying jobs, stay in low paying jobs.

50% of poor houses holds are in work (So that means 50% arn't working?)

My opintion?

Its all Gorddy the useless stnuc chickens coming home to roost. Still.

Massive bank credit boom, inflated housing.

Tax credits dragging half the working population from FT low and medium paid jobs into very low skilled part-time jobs.

I remember that pr1cks Browns Millennium Debt relief - providing relief for highly in debt countries.

Due to Brown, the UK is heading to the levels of debt he was so keen to right off.

Anyone thought of tapping up Africa?

 

 

Yep.People see no point in saving/paying off a house/working more than 16/21 hours.Kids start getting to 18 tax credits start getting cut by big amounts.Then last kid is 18 you get zero tax credits once wages hit £16k as a couple,but then rent eats up a huge chunk and there is no way out.Work full time,partner part time until kids at school,then both full time,pay house off by 45,wind down then.Its all gone due to insane tax credits ,insane house prices,and insane immigration levels.

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3 hours ago, One-percent said:

Working tax credits are a massive subsidy of big business and corporations. It they cannot pay staff enough to enable them to feed, clothe and house themselves, they really should not be in business.  Why should the tax payer (and the printing press of course) have to subsidise large business whose executives earn more in a year than many won't reach in their lifetime 

Exactly right.

And if they got rid of WTC, we'd see 5,000,000+ unemployed.  THAT is the true yardstick of our economy (seeing how we'd do without WTC). 

I remember we had 3,000,000 unemployed in the early 80s.  If we had WTCs back then, we'd probably have rivalled North Korea with low unemployment rates. 

WTC has become like make-up for the economy.  It makes it look a lot more attractive than it really is.   And of course, the dumb-dumb fake-news MSM never pick up on this.

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1 hour ago, Kiwi Toast said:

Real poverty or the usual "less than 60% of median wages" or whatever?

Probably not poverty in any really meaningful sense (facing the very real threat of starvation etc.) but still a problem, or at any rate a sign of things being badly messed up. Costs of housing on the up, pay and job security on the fall isn't a good combination.

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4 minutes ago, knock out johnny said:

Good point,although I think most people would be poor and the country severely over crowded if everyone had 6 children.

Quote

Hedges also visited the Newlove family in Bradford in 1969 where six siblings slept in one room. 

 

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3 hours ago, spyguy said:

I know I sound like an echo but Browns at the root of everything wrong in the UK

You sound like the right wing version of the lefties who are still blaming everything on Fatcher decades after she was booted out of office.

If the politicians who came after Thatcher/Brown wanted to fix or start fixing things, they could. In some ways they are more guilty than the politicians who put bad policies in place because the longer the bad policies are allowed to run, the more obvious the harmful effects become.

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18 minutes ago, Dorkins said:

You sound like the right wing version of the lefties who are still blaming everything on Fatcher decades after she was booted out of office.

If the politicians who came after Thatcher/Brown wanted to fix or start fixing things, they could. In some ways they are more guilty than the politicians who put bad policies in place because the longer the bad policies are allowed to run, the more obvious the harmful effects become.

I know.

But the Fatcher thing was more of a perception/dontlikechange of the UK economy falling to bits at the endof the 70s.

Brown took a good, balanced economy and fcked it up in a vain attempt to to become President for life.

And say this as someone from a Northern Blue collar Labour background who has chatted to the odd MP/person who witnessed Brown at close quarters.

And, yes, the coallation sat on their ar5es and did nothing to being reparinging Browns damage. Gidiot fckedup.

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49 minutes ago, Dorkins said:

You sound like the right wing version of the lefties who are still blaming everything on Fatcher decades after she was booted out of office.

If the politicians who came after Thatcher/Brown wanted to fix or start fixing things, they could. In some ways they are more guilty than the politicians who put bad policies in place because the longer the bad policies are allowed to run, the more obvious the harmful effects become.

But he does justify it, unlike lefties who say right to buy caused the housing crisis (yes it was awful in 96 - not).

Edited by iamnumerate

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5 hours ago, spyguy said:

Gordon Brown. Chancellor/PM for ~14 years.

Fcked up economy for 50 years.

I know I sound like an echo but Browns at the root of everything wrong in the UK. It all comes back to that loon.

Removing tax credits would probably plunge us into a recession as a huge amount of purchasing power would disappear from the economy. 

I've always seen TC's and other top ups as sticking plasters to the fact that wages are lower due to globalisation and good playing jobs are almost non-existent. 

We need to adjust the economy to have higher wages and lower asset prices. 

The decline of good jobs in the west has been carried through with parties from the left and right, indicating a combined effort to stuff the working class at the expense of profits. 

Edited by Assume The Opposite

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4 minutes ago, Assume The Opposite said:

 

Removing tax credits would probably plunge us into a recession as a huge amount of purchasing power would disappear from the economy. 

I've always seen TC's and other top ups as sticking plasters to the fact that wages are lower due to globalisation and good playing jobs are almost non-existent. 

We need to adjust the economy to have higher wages and lower asset prices. 

The decline of good jobs in the west has been carried through with parties from the left and right, indicating a combined effort to stuff the working class at the expense of profits. 

But as a result of TCs, the UK is running a 5%+ structural deficit, on a national debt of ~ 90% GDP.

If we dont scrap TCs then the UK goes into meltdown in a few years.

The UK national debt has double over the last 8 years : 40% -> 80%

It'll be ~120% in a few years time.

 

 

 

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14 minutes ago, Assume The Opposite said:

 

We need to adjust the economy to have higher wages and lower asset prices. 

That wouldn't work because with higher wages people would just borrow more and support asset prices or push them higher. Increases in minimum or living wage just end up in executive pay or bank bonuses.

What we really need is people to keep more of their income.

Revert back to mortgages of 3x main income plus 1x second income, instead of the BoE being happy with no more than 15% of mortgages at greater than 4.5x household income. Then there wouldn't the HPI that made BTL appealing. People would buy cheaper houses to live in and have disposable income again.

Higher wages would make us even less competitive as a manufacturer, so still too much dependency on financial services that fuel HPI.

We shouldn't be able to print or borrow wealth, just keep enough of what we earn.

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