spotArguments for socialism

spotCapitalism

spotGlobalisation Anticapitalism

spotMarxism


All keywords


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

Capitalism keywords:

1929 (2)

Asset-stripping (8)

Austerity (1063)

Bankers (106)

Banking crisis (14)

Bear Stearns (3)

Bonuses (58)

Bourgeois (3)

Brexit (58)

British economy (16)

British politics (9)

Budget (313)

Capitalism (843)

Capitalist (618)

Carry trade (1)

Coalition government (24)

Competition (25)

Credit crunch (19)

Debt (203)

Depression (18)

Economic crisis (72)

Economy (404)

Enron (2)

Euro (43)

Famine (2)

Great Depression (7)

Hedge funds (9)

Import controls (1)

Inflation (33)

Interest rates (26)

Jpmorgan (1)

Keynesian (7)

Keynesianism (4)

Lisbon Treaty (9)

Marriage (7)

Mortgages (20)

Northern Rock (32)

Oil (280)

Oppression (41)

Populism (2)

Private equity (11)

Profit (73)

Profit system (26)

Recession (120)

Rich (235)

Shares (18)

Shell (8)

Short-selling (2)

Social class (3)

Software (2)

Stock market (10)

Stock market crash (3)

Sub-prime (12)

Sub-prime market (2)

Subprime (10)

Tax (553)

Technology (21)

Universal Credit (5)

Wealth (61)

Wealth gap (14)

World economy (55)

capitalist crisis (29)

capitalist system (29)

Wealth


Highlight keywords  |Print this articlePrint this article
From: The Socialist issue 919, 5 October 2016: Tories out!

Search site for keywords: Wealth - Workers - Housing - Market - Council - Rents - Pay - Pensions - Pension

UK workers born in early 1980s half as wealthy as those born in 1970s

We are the 99% - Take the wealth off the 1% Socialist Party placard, photo Paul Mattsson

We are the 99% - Take the wealth off the 1% Socialist Party placard, photo Paul Mattsson   (Click to enlarge)

James Clopp

People born in the early 1980s are half as well-off as those born in the 1970s were at their age. This won't come as any surprise to today's 30-somethings.

A new report from the Institute for Fiscal Studies shows rising rent and house prices, combined with stagnating wages, put home ownership beyond the reach of many who have entered the workplace since 2000.

Certainly, from my own experience, the idea that you could save 30,000 - while the majority of your meagre salary is swallowed up by rent - seems impossible.

Leaving housing in the hands of private landlords and building firms has meant younger people are held to ransom. Not enough houses are built. Many lie deliberately vacant to keep prices high, while speculation in the property market drives rent higher and higher.

When I tell my friends that in the '80s, tenants could appeal to rent boards run by the local council to fix fair rents or guarantee tenure, they are incredulous! These are the kind of policies we need to escape the rent trap, along with a return to a mass council housing building programme.

The report also points out that pension entitlements have dropped dramatically for children born after 1980. We now face the nightmare scenario of heading into retirement with very little savings, while seeking housing in a hostile rental market.

We can start to turn this around by getting organised in trade unions, and fighting for higher pay and better pensions. In the longer term, we need to fight for a government with socialist policies.

The wealth hoarded by the capitalist elite should be taken off them, and used instead to guarantee everyone access to housing, and a dignified working life and retirement.






Join the Socialist Party Join us today!

Printable version Printable version

Facebook   Twitter

Related links:

Wealth:

triangleCapitalism and human progress

triangle'Let the producers of wealth unite - and what can withstand them?'

triangleMarx's Capital at 150: an unequalled analysis and critique of capitalism

triangleThe have-yachts and the have-nots

triangleCity bosses' 40m bonuses as Number of food banks hits 2,000

Workers:

triangleNasty party imploding...drive out the Tories

triangleWorkplace news in brief

triangleCWU fights court attempt to stop national strike

triangleThe fight against racial discrimination is tied to fighting against capitalist austerity

Housing:

triangleNo more fire deaths - ensure safety now!

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

triangleEast London summit fails to address housing crisis

Market:

triangleAnti-austerity opposition needed to seize on Tories' weakness

triangleHow the Single Market blocks socialist policies

Council:

triangleSalford Unison condemns pay cuts

Rents:

triangleLandlord licensing under threat - fight back

Pay:

triangleJustice for Tube cleaners demo

Pensions:

triangleSet for national strike action

Pension:

triangleThyssenKrupp - Tata steel merger