spotArguments for socialism

spotCapitalism

spotGlobalisation Anticapitalism

spotMarxism


All keywords


Capitalism keywords:

1929 (2)

Asset-stripping (9)

Austerity (1115)

Bankers (108)

Banking crisis (14)

Bear Stearns (3)

Bonuses (58)

Bourgeois (4)

Brexit (72)

British economy (18)

British politics (9)

Budget (330)

Capitalism (872)

Capitalist (635)

Carry trade (1)

Coalition government (24)

Competition (26)

Credit crunch (19)

Debt (211)

Depression (19)

Economic crisis (82)

Economy (410)

Enron (2)

Euro (43)

Famine (2)

Great Depression (7)

Hedge funds (9)

Import controls (1)

Inflation (36)

Interest rates (27)

Jpmorgan (1)

Keynesian (7)

Keynesianism (4)

Lisbon Treaty (9)

Marriage (8)

Mortgages (21)

Northern Rock (32)

Oil (283)

Oppression (51)

Populism (3)

Private equity (11)

Profit (84)

Profit system (28)

Recession (120)

Rich (245)

Shares (19)

Shell (8)

Short-selling (2)

Social class (3)

Software (2)

Stock market (11)

Stock market crash (3)

Sub-prime (12)

Sub-prime market (2)

Subprime (10)

Tax (564)

Technology (22)

Universal Credit (13)

Wealth (68)

Wealth gap (15)

World economy (55)

capitalist crisis (30)

capitalist system (34)

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
Subscribe to Socialist Party publications
Donate to the Socialist Party
Socialist Party Facebook page
Socialist Party on Twitter
Visit us on Youtube

LATEST POSTS

CONTACT US

Phone our national office on 020 8988 8777

Email: info@socialistparty.org.uk

Locate your nearest Socialist Party branch Text your name and postcode to 07761 818 206

Regional Socialist Party organisers:

Eastern: 0798 202 1969

East Mids: 0773 797 8057

London: 020 8988 8786

North East: 0191 421 6230

North West 07769 611 320

South East: 020 8988 8777

South West: 07759 796 478

Southern: 07833 681910

Wales: 07935 391 947

West Mids: 02476 555 620

Yorkshire: 0114 264 6551

ABOUT US

ARCHIVE

Alphabetical listing


February 2018

January 2018

2017

2016

2015

2014

2013

2012

2011

2010

2009

2008

2007

2006

2005

2004

2003

2002

2001

2000

1999