Join the Socialist Party Join us today!

Printable version Printable version

Facebook   Twitter

Link to this page: http://www.socialistparty.org.uk/issue/967/26309

From The Socialist newspaper, 18 October 2017

Young people being strangled by debts

Young people are struggling because of low pay and high rent, not avocado toast, photo TaxRebate.org.uk (Creative Commons)

Young people are struggling because of low pay and high rent, not avocado toast, photo TaxRebate.org.uk (Creative Commons)   (Click to enlarge)

Take the wealth off the super-rich

No to the Tories' scapegoating of pensioners!

Jack Yarlett, Wirral Socialist Party

Over a third of young people are in debt - on average by 2,989 - says the Money Advice Trust.

And this figure does not even include mortgages or our astronomical tuition fees! It also does not include young people borrowing money from our parents.

The head of the Financial Conduct Authority, Andrew Bailey, has admitted concerns about the alarming levels of debt young people aged 18 to 25 are facing.

And fearing more backlash from young people, Tory chancellor Philip Hammond is reportedly considering a tax cut for under-30s - funded by cuts to pension tax relief.

Over half of 18 to 24-year-olds express worries about money and debt, and more than a fifth admit to losing sleep over it, according to the Money Advice Trust study. One in ten has resorted to taking money from predatory payday loan companies - particularly young parents, the Young Women's Trust has found.

To add insult to injury, much of the establishment media likes to stereotype young people as causing our own problems by frivolously borrowing to pay for smartphones, 'useless' degrees and avocado toast. Nothing could be further from the truth.

Young people are going into debt to cover our cost of living, not spending on luxuries. This is no surprise in the new economy of low pay, zero-hour contracts and soaring rents.

This is a problem that will only grow worse as the government imposes the hated 'Universal Credit' welfare scheme, notorious for sometimes leaving claimants for more than a month without any income.

Meanwhile, Hammond's tax plan, like May's meagre 5,000-a-year housebuilding plan, does not come even close to what is needed.

And in unfairly attacking pensioners, it could well backfire - just like the Tories' infamous 'dementia tax' proposal. It's not retired workers, but super-rich bosses, who are to blame.

The Socialist Party demands:

Why not click here to join the Socialist Party, or click here to donate to the Socialist Party.


In The Socialist 18 October 2017:


What we think

Tories torn - bin them now


Socialist Party news and analysis

Schools "can't go any further" - stop the cuts: set deficit budgets now

Young people being strangled by debts

Tories scrap the NHS pay cap: now fight for real-terms pay rises!

Obesity epidemic: end food market anarchy

What we saw


Socialist Party workplace news

Royal Mail bosses block strike - back postal workers

PCS ballots members on the pay cap

Nationalise to save jobs at BAE Systems

Striking back against sackers' charter at Leeds Uni

North London hospital workers fight cuts and job losses

Unite local government sector plans strike ballot

Salford Unison condemns pay cuts


October revolution 1917

Russia, October 1917: When workers took power

October 1917 reviews: 'More bright than any heaven'

October 1917 centenary pull-out and poster


Socialist Party reports and campaigns

No cuts - hands off King George A&E!

Can you donate to the Socialism 2017 appeal?

Uprising to save the NHS!

Hundreds turn out for rally aimed at removing west Wales Tory MP

Sheffield Labour council threatens peaceful protesters with prison

Socialist Students 'welcome' Hillary Clinton to Swansea


International socialist news and analysis

Campaign against political repression in Hong Kong


Socialist Party comments and reviews

Powerful picture of the Port Talbot steel workers' struggle

Conference on state spies: who's watching who?

'Dazzling' Bad Art show points to socialist future


 

Home   |   The Socialist 18 October 2017   |   Join the Socialist Party

Subscribe   |   Donate   |   Audio  |   PDF  |   ebook






Related links:

Debt:

triangleMarch for free education! We demand a future!

triangleNasty party imploding...drive out the Tories

triangleNHS meltdown - fight the Tory cuts

triangleHousing crisis: Corbyn's positive measures blanked by Labour's right

triangleTories wreck our NHS

Young people:

triangle4,800 young people hurt after officers 'restrain' them

triangleWalk out against tuition fees on Budget Day!

triangleWe can win the vote at 16!

triangleJoin the budget day protests!

Wealth:

triangle'Paradise' for billionaires - austerity for us

triangleRobber bosses own $6trn

triangleCapitalism and human progress

Tories:

triangleTories on the brink - kick them out!

triangleTories u-turn on social housing benefit cap and borrowing to build

Super-rich:

triangleTories torn - bin them now

Rich:

triangleCan you donate to the Socialism 2017 appeal?

Pensioners:

trianglePowerful picture of the Port Talbot steel workers' struggle

Tax:

trianglePFI privateers dodge tax

Socialist Party:

triangleBirmingham South East Socialist Party: NHS in Meltdown - What can be done?

Zero-hour contracts:

triangleUsdaw elections announced - fight for a left leadership, vote for Amy Murphy

Workers:

triangleVirgin train workers vote for strike action over pay

Pay:

triangleThe Socialist Inbox

Pension:

triangleRoyal Mail bosses block strike - back postal workers

Parents:

triangleTeachers, students and parents demand an end to the schools funding crisis

The Socialist:

triangleWhy I joined the Socialist Party: "I started to question whether there was a better way"

Rents:

triangleUS: Minneapolis Socialist chimes with voters

Mortgages:

triangleOver a million families in 'extreme problem debt'

Women:

triangleCaerphilly Socialist Party: Women and Revolution

Relief:

triangleHurricane Harvey: A tragedy made far worse by capitalism

Tuition Fees:

triangleThe Tories must be driven out

Welfare:

triangleChild poverty set to hit 5.2m - unions and Corbyn must act now

Wirral:

triangleWirral Socialist Party: Lessons of the 1936 French Popular Front

Universal Credit:

triangleCarlisle socialists campaign against Universal Credit

Minimum wage:

triangleUSA: Historic vote for Ginger Jentzen campaign in Minneapolis

Cuts:

triangleIs cuts-making Preston 'beating Tory austerity'?

Benefits:

triangleBosses say 217 years to close pay gap - workers' struggle can close it now!

Claimants:

triangleUniversal Credit chaos: Tories punish the poor

Economy:

triangleNationalise to save jobs at BAE Systems

Low pay:

triangleMixed-fleet workers show strikes get results

Fees:

triangleSocialist Students actions against uni fees on Budget Day

Government:

triangleNo more excuses: fit sprinklers now!

Media:

triangleObesity epidemic: end food market anarchy

News and socialist analysis

News and socialist analysis

15/11/17

Prisons

4,800 young people hurt after officers 'restrain' them

15/11/17

Preston

Is cuts-making Preston 'beating Tory austerity'?

15/11/17

Housing

No more excuses: fit sprinklers now!

15/11/17

What we saw

What we saw

15/11/17

Energy

We're freezing: reverse cuts to boiler replacement schemes!

15/11/17

Tories

Tories on the brink - kick them out!

14/11/17

Socialist

Socialism 2017: Organising to fight back

8/11/17

What we saw

What we saw

8/11/17

Child poverty

Child poverty set to hit 5.2m - unions and Corbyn must act now

8/11/17

Young people

We can win the vote at 16!

8/11/17

Women

Bosses say 217 years to close pay gap - workers' struggle can close it now!

8/11/17

Women

Westminster sexual harassment scandal

8/11/17

Students

Walk out against tuition fees on Budget Day!

8/11/17

Tax

PFI privateers dodge tax

7/11/17

Tax

'Paradise' for billionaires - austerity for us

triangleMore News and socialist analysis articles...


Join the Socialist Party
Subscribe to Socialist Party publications
Donate to the Socialist Party

triangle15 Nov March for free education! We demand a future!

triangle15 Nov Tories on the brink - kick them out!

Socialism 2017

triangle14 Nov Socialism 2017: Organising to fight back

triangle13 Nov Strike wave continues with 49 walkout days by housing workers

triangle10 Nov US: Historic vote for Ginger Jentzen campaign in Minneapolis

triangle10 Nov Strikers picket the South Western Railway network

triangle10 Nov Europe in crisis, revolutionary winds in Catalonia

More ...

triangle20 Nov Birmingham Central Socialist Party: How can socialists support upcoming strikes?

triangle21 Nov Cardiff Socialist Students: Socialism and the struggle for LGBT rights

triangle21 Nov Birmingham South East Socialist Party: NHS in Meltdown - What can be done?

triangle21 Nov Sheffield North Socialist Party: The causes of capitalist crisis

More ...

Socialist Party Facebook page
Socialist Party on Twitter
Visit us on Youtube

Archive

Archives:

November 2017

October 2017

September 2017

August 2017

July 2017

June 2017

May 2017

April 2017

March 2017

February 2017

January 2017

2016

2015

2014

2013

2012

2011

2010

2009

2008

2007

2006

2005

2004

2003

2002

2001

2000

1999

Legal

SP RSS feed RSS

Platform setting: = No platform choice

V2