Citizens’ Wealth Fund

[screenman]

I'm happy not working, but I still pay my own way.

None of us pay enough, and some are taking out way more than they have put in.

 

[FishFright]

Get rid of the ponces and there would be loads of money for people willing to work .

One thing the DM has taught the nation is that the poor have all taken the money . Especially those in social housing or with suspicious skin pigments or foreign accents.

Just how dumb this country has become ??

 

[screenman]

One thing the DM has taught the nation is that the poor have all taken the money . Especially those in social housing or with suspicious skin pigments or foreign accents.

Just how dumb this country has become ??

I doubt that many believe the DM.

 

[slowmotion]

The population of Norway is a twelfth that of the UK. The oil and gas extraction has been very, very roughly similar. Even if politicians of all political persuasions hadn't been frittering it away for the last fifty years, the jam in the UK was always going to be a bit thinner.

Edit: BTW, it isn't all rosy in Norway. Have you ever paid for half a litre of beer over there?

https://www.numbeo.com/cost-of-living/country_result.jsp?country=Norway&displayCurrency=GBP

 

[screenman]

[QUOTE 5210328, member: 9609"]Because they would just waste it all on cars, in fact the country has just had a massive windfall through PPI and a good deal of that was wasted on cars, holidays and iPhones.. Young people don't have any money because they don't work very hard and any money they do get they waste on short term stuff.[/QUOTE]

That cannot be said about the majority of young people I know.

 

[screenman]

absolute bollocks

Is that replying to my post or Reivers?

 

[screenman]

Which one was he quoting...?

On my alerts it told me he was replying to mine.

User quoted your post in the thread Citizens’ Wealth Fund.
50 minutes ago

 

[Levo-Lon]

if only we had a ideal where we all live the same ,get paid the same,only allowed one child.
and pay greatest respect to a leader who keeps us all safe in his palace.
where do i sign

 

[BoldonLad]

I am a bit puzzled by all this talk of a “Citizens Wealth Fund”? Does it mean the Government collecting taxes (from whoever), and/or using what ever resources are avalpilable, to the benefit of us citizens? Isn’t that what they all (ie all Parties) claim to have been doing for ever?

 

[Joey Shabadoo]

[QUOTE 5210474, member: 9609"]it can round here, it astonishes me how many young people who have just set up home will have a new car each. (obviously not all but it does seem par for the course)

And I think the PPI windfall is a good example of what would happen to any distributed wealth fund. Out of the 28bn dished out only 12% has went into savings, the vast majority of the money went on holidays and cars

I'm certainly very open minded to having some sort of universal basic income, but a one off hand out would be just wasted on all the wrong things. In fact lump sums could make matters worse, if the windfall is used as a deposit on a car they can't afford, then they are saddled with the on going payments for the next 4 or 5 years. Sadly we are conditioning those coming into adulthood that having debt is normal.[/QUOTE]


Tbf not a truly representative sample. Those getting PPI refunds tended to be the ones who borrowed heavily at the height of the credit boom without reading or understanding the small print.

 

[BoldonLad]

Tbf not a truly representative sample. Those getting PPI refunds tended to be the ones who borrowed heavily at the height of the credit boom without reading or understanding the small print.

I am a “reader of small print”. I therefore ignored all of the PPI publicity etc, thinking, it did not apply to me.

Recently, I decided to respond to one of many “no win no fee” outfits (aka sharks).

To my amazement, it turned out, I had PPI.

I got a full refund of £3.60, they (NWNF) did not even take their cut, which I thought was very generous of them.

I resisted buying a new car, or, expensive holiday, I have saved my windfall

 

[BoldonLad]

A survey by an money-saving web-site is hardly hardly substantive evidence, is it now - irrelevant of where it is reported?

It's not just "older people were far more reluctant to get into debt in the first place". The older generation had the benefit of significant state support when they were younger. For example, if they wanted to go into tertiary education they didn't have to cope with student fees - those were paid and many got grants to help with living costs as well. Older people also had the advantage of being able to rent social housing at reasonable rents or, if they were that way inclined, to buy council housing at knock-down prices.

Has “right to buy” been stopped now?

Have the “younger generation” not benefitted from selling or renting the ex-Council houses, inherited from their parents?

 

[BoldonLad]

"Right to buy" hasn't been stopped (but then again, we've had right wing governments in power ever since Maggie started promoting it) but the supply of houses to buy is now much restricted (because most of them have already been sold off).

Lots of those who bought their houses are still alive... so their kids haven't necessarily benefited - and may not, if the house has to be sold off to pay for their parents' care (which some might suggest is karma).

“Lots” no actual statistics?

 

[BoldonLad]

I could refer you to the mortality statistics...

Do they correlate with buying your Council house?

Well I never.

 

[Randomnerd]

Citizens Wealth Fund - RBS made a £752 million profit in 2017 and we own much of the bank. Roll profits into a fund that by 2030 could supply a fund to those coming of age. Of course you wouldn't dole it out like @User9609 thinks for them to buy a car. Maybe it would be to buy education or training, or as start-up for a business venture. A start, a leg-up. It's our money, so maybe we could come up with some useful ways to spend it? I dunno. Let's just argue about the Daily Mail...