[Politics] The Labour Government

[Thunder Bolt]

Tangibly and in messaging. The last thing we need is more ‘jam today’ people opting of pension auto enrolment. It’s vital that people even from age 20 save adequately for retirement. The best way is start asap.

To be able to save, you need ‘spare money’ after rent, food and bills. So many people are living hand to mouth and are unable to save. It’s said a good proportion of the country are just six wage packets from destitution.
Then take into account critical illness, and family breakdowns.

 

[crodonilson]

Tomorrow represents 100 days in Labour power.

This is quite probably the worst opening 100 days of any British government in history, particularly given the context of the landslide victory that Labour earned at the general election.

 

[bazbha]

Tomorrow represents 100 days in Labour power.

This is quite probably the worst opening 100 days of any British government in history, particularly given the context of the landslide victory that Labour earned at the general election.

Agreed but not at all surprised. We are in a truly dreadful situation that the last lot were so bad that the only real alternative was the shambles we have now got.

 

[Bozza]

Anothey by-election in Worthing yesterday, this time Heene ward, where a good mate was running for Labour, who held the seat in the recent May elections.

May 2024
LAB: 56.3%
CON: 26.2%
GRN: 10.5%
LDM: 6.9%

Labour looked to throw a lot at it, with both of the town's new Labour MPs out campaigning recently. Despite this, a big swing saw the seat go to the Tories...

October 2024
CON: 42.1% (+15.8)
LAB: 39.9% (-16.4)
GRN: 10.5% (+0.0)
LDM: 7.5% (+0.6)

 

[JBizzle]

Tomorrow represents 100 days in Labour power.

This is quite probably the worst opening 100 days of any British government in history, particularly given the context of the landslide victory that Labour earned at the general election.

This was always inevitable. After 13 years of constant degeneration, the country was always going to have a new government that needed to course correct. Sadly, people have such short memories that the next government after this was was always likely to be Conservative again

 

[Weststander]

To be able to save, you need ‘spare money’ after rent, food and bills. So many people are living hand to mouth and are unable to save. It’s said a good proportion of the country are just six wage packets from destitution.
Then take into account critical illness, and family breakdowns.

When 21 year olds have a minute proportion of wages taken for auto enrolment, after tax relief, they’ll never miss it. The employer tops up. If the jam today person opts out, nothing goes in.

It sets up a great habit for life. The 21 years olds almost all don’t have a landlord rent or a mortgage to pay.

It should be mandatory anyway. As experts such as Ros Altmann and Frank Field always said.

45 years plus of pension growth, compound, is a game changer.

 

[Thunder Bolt]

When 21 year olds have a minute proportion of wages taken for auto enrolment, after tax relief, they’ll never miss it. The employer tops up. If the jam today person opts out, nothing goes in.

It sets up a great habit for life. The 21 years olds almost all don’t have a landlord rent or a mortgage to pay.

It should be mandatory anyway. As experts such as Ros Altmann and Frank Field always said.

45 years plus of pension growth, compound, is a game changer.

Sounds ideal until you realise most 21 year olds change employment every two or three years. Even now it’s almost impossible to amalgamate pension schemes. My husband has had 3 jobs in 27 years. 3 completely different pension schemes.
The first one from 1997-2003 is untraceable, defunct, gone. A financial advisor told him it was useless.

 

[Weststander]

Sounds ideal until you realise most 21 year olds change employment every two or three years. Even now it’s almost impossible to amalgamate pension schemes. My husband has had 3 jobs in 27 years. 3 completely different pension schemes.
The first one from 1997-2003 is untraceable, defunct, gone. A financial advisor told him it was useless.

You’re talking about old regimes.

Being positive in the here and now, firstly everyone and their employer should invest for retirement. Then it’s a case of the government bringing in a centraliised dashboard. Tory now Labour have proposed this.

 

[Thunder Bolt]

You’re talking about old regimes.

Being positive in the here and now, firstly everyone and their employer should invest for retirement. Then it’s a case of the government bringing in a centraliised dashboard. Tory now Labour have proposed this.

Here and now, but it’s a proposal?

Yes, I agree but it will help my grandchildren not those retiring in the next 20 years.

 

[Weststander]

Here and now, but it’s a proposal?

Yes, I agree but it will help my grandchildren not those retiring in the next 20 years.

Never too late to save for retirement.

I advised a mate in his mid 60's to start doing it, he's not wealthy, he's now grateful for a growing pot. Every time he pays in a sum, the state adds 25% in hard cash immediately.

 

[dstanman]

I would assume that any changes to the tax free allowance for pensions would not come into effect until the 25/26 tax year

 

[Weststander]

I would assume that any changes to the tax free allowance for pensions would not come into effect until the 25/26 tax year

That would certainly lead to a MIRAS-esque stampede between 30/10/24 to 05/04/25.

 

[abc]

Tomorrow represents 100 days in Labour power.

This is quite probably the worst opening 100 days of any British government in history, particularly given the context of the landslide victory that Labour earned at the general election.

Impossible to disagree but they will be judged in 4 years or so time on their record over a full parliament. Terrible start but all will be forgiven if everyone feels their lives have taken a turn for the better by then. Perhaps ‘jury out’ is the appropriate term right now

 

[Thunder Bolt]

Never too late to save for retirement.

I advised a mate in his mid 60's to start doing it, he's not wealthy, he's now grateful for a growing pot. Every time he pays in a sum, the state adds 25% in hard cash immediately.

I agree but will it be enough to live on?

 

[Peteinblack]

This was always inevitable. After 13 years of constant degeneration, the country was always going to have a new government that needed to course correct. Sadly, people have such short memories that the next government after this was was always likely to be Conservative again

A lot of people have selective short term-memories. They'll conveniently forget the £ billions 'spaffed' by the Johnson Government via dodgy contracts and cronyism, and the disastrous mini-Budget of the Truss premiership, but they'll still bang on about Gordon Brown selling some of our gold reserves over 20 year ago, or the 1978-79 winter of discontent 45 years ago.

Like I said on another post yesterday, we have a creaking antiquated party system, a dysfunctional electoral system, and, quite frankly, an often not well-informed or 'rational' electorate. In this era of populism, demagoguery, emotions, prejudices, and 'what I want to believe' or 'this is my Truth', often triumphs over evidence, facts, or logic.

 

[Weststander]

I agree but will it be enough to live on?

Augmenting the triple-locked state pension, better than having done nothing.

 

[Weststander]

A lot of people have selective short term-memories. They'll conveniently forget the £ billions 'spaffed' by the Johnson Government via dodgy contracts and cronyism, and the disastrous mini-Budget of the Truss premiership, but they'll still bang on about Gordon Brown selling some of our gold reserves over 20 year ago, or the 1978-79 winter of discontent 45 years ago.

Like I said on another post yesterday, we have a creaking antiquated party system, a dysfunctional electoral system, and, quite frankly, an often not well-informed or 'rational' electorate. In this era of populism, demagoguery, emotions, prejudices, and 'what I want to believe' or 'this is my Truth', often triumphs over evidence, facts, or logic.

That's the Western world. USA, Austria, Hungary, Germany, France now have hugely popular far right parties/leaders.

Russia stirring stuff up on social media through fake locals, lapped up by idiots.

How do you stop that? Haven't a clue.

 

[jcdenton08]

Anothey by-election in Worthing yesterday, this time Heene ward, where a good mate was running for Labour, who held the seat in the recent May elections.

May 2024
LAB: 56.3%
CON: 26.2%
GRN: 10.5%
LDM: 6.9%

Labour looked to throw a lot at it, with both of the town's new Labour MPs out campaigning recently. Despite this, a big swing saw the seat go to the Tories...

October 2024
CON: 42.1% (+15.8)
LAB: 39.9% (-16.4)
GRN: 10.5% (+0.0)
LDM: 7.5% (+0.6)

Labour will be hoping that they can do the nasty stuff now, take the hits and losses, give a very harsh budget then spend between then and the election rebuilding trust.

Problem for them will be pensioners who are getting slammed from all sides and will rush back to the Tories, as your little snapshot above shows.

 

[Giraffe]

Anothey by-election in Worthing yesterday, this time Heene ward, where a good mate was running for Labour, who held the seat in the recent May elections.

May 2024
LAB: 56.3%
CON: 26.2%
GRN: 10.5%
LDM: 6.9%

Labour looked to throw a lot at it, with both of the town's new Labour MPs out campaigning recently. Despite this, a big swing saw the seat go to the Tories...

October 2024
CON: 42.1% (+15.8)
LAB: 39.9% (-16.4)
GRN: 10.5% (+0.0)
LDM: 7.5% (+0.6)

Did Reform pull out of this seat? I saw they were campaigning for it.

 

[Bry Nylon]

Perhaps ‘jury out’ is the appropriate term right now

Or as Kevin Bridges put it on HIGNFY last Friday, "There are cruise ships in Belfast that have got off to a better start."