Tory peer calls for £10,000 ‘citizens inheritance’ for all 30-year-olds

[SerendipityJane]

"The next government" I notice.

Not this one.

Are we all ready for the extra tax to pay for this ? Or would we rather scrap PIP and ESA ?

https://www.theguardian.com/politics/2024/mar/02/tory-peer-calls-for-10000-citizens-inheritance-for-all-30-year-olds

In theory, it's not the worst idea a tory ever had. Obviously it's impossible in practice because of cut offs and perceived unfairness. See also almost every other floated initiative which involves giving people stuff.

Feel free to find the £10k down the back of your own sofa then 😁

Spending the money on something sensible like trying to fix housing policy for everyone is obviously too much to ask for.

@sleepyscientist What planet are you on? Many people on disability benefits have lifelong conditions that they were born with or developed in childhood/young adulthood.

How on earth would they be in a position to either get insurance to cover them or an income to pay for it?

You are not better or more deserving of comfort than someone with a disability or health condition, vit can happen to any of us at any time.

Because Tories always suggest cutting benefits. That sort of talk appeals to a certain Tory-voting demographic.

Obviously we can't scrap all benefits but the whole system needs an overhaul. I have no idea how we as a country are affording it all right now.

@Flensburg they would be covered under their parents policy as they were born with the illness/disability.

I’m sure the insurers will love that. What happens when they reach 18 or the parents die?

Meanwhile in the real world…

So 10k to put a deposit down to buy a house and then work until I'm 80 in my poorly paid job to service the extortionate mortgage payments.

They're worried about the number of Millennials they'll be paying to house in private rentals when we eventually retire. And propping up the housing market and business as usual.

Just give the 10k to everyone. Or introduce UBI.

Or just build more housing. Much more (social) housing 😡

We need something like this https://medium.com/open-systems-lab/a-new-land-contract-684c3ba1f1b3 that would adress the root cause not the symptoms

The thing with employer-led insurance schemes, you then end up with a system similar to American health insurance.

It gives employers more power over the lives of their employees (and families) which a few would no doubt use unscrupulously. If you know that getting fired or made redundant means that your disabled child would go without insurance support you are likely to change your behaviour in a way that benefits the employer, but is detrimental to yourself.

Do we really want to start to move towards the US model of competitive over-working? DH works for a "liberal" US tech company. Despite being more progressive, it is still expected that you will refuse to take all of your annual leave, work 10 hour days minimum and work over weekends / nights as required.

It's fine for a short while when you're young to build a career or to reap decent wages. But long-term it'd put you in an early grave. Which any parent would do, if they thought their child needed access to some critical illness insurance.

Do we really want to start to move towards the US model of competitive over-working?

Lunch breaks are so over rated.

https://www.alternet.org/gop-lawmaker-lunch-breaks/. And peoeple are

It's not April Fools Day - yet!

On the lunch break thing, people in the uk are not paid for their lunch break. There are also laws around rest/ break times.

£10,000 is such a small amount these days it won't make a jot of difference to securing any 30yr olds future .

It won't happen and is a silly idea

it would also eliminate mandatory rest breaks

I would really encourage people to read the article as the point it makes about increasing inequality due to intergenerational wealth is very interesting and worthy of political attention. The headline is quite click baity by the guardians standards.

The wider point of interest is how income will become less relevant to your wealth than ever before. That has immediate implications in terms of tax receipts and longer term issues where the value of work is further eroded, particularly for working class/lower middle class younger people.

This.
It wouldn't be the first non means tested benefit to be doled out simply by virtue of age.

aah I see the magic money tree is in flower again
#futurefaking

It would have made a huge difference to the deposit amount my ds saved up for a house. No matter how much he saved prices kept going up.

Ventyally his grandparents gave him exactly 10k. The exact amount suggested. He then could afford a house.

Millennials have shafted left right and centre financially. They absolutely deserve this and more. Generation Rent have been screwed.

In fact that's probably going to be the Tory election strategy (as best it can be) - look at all the broken shit Labour won't be able to fix

Reading many posts on MN, sadly it appears to already be working

For those who are unaware.. critical illness cover will only cover you if you haven’t had a critical illness. People tend to assume that everything has its price. I had thyroid cancer back in 2021 - my critical illness cover paid out in full but I’ve had a range of health issues since. Even through a specialist broker I am currently uninsurable and if I do become eligible later on there will be a long list of exclusions.

Critical illness cover is also typically a one off payment. Don’t get me wrong I’m grateful but I’m also 41 and not seeing any point where I will be capable of working in the near future if ever again.

Finally critical illness cover depends on a form filled out by a consultant. Because the insurance cover pays for this it is regarded as private work. Being charitable a lot of consultants are very busy. Less charitably some of them are utter gits. It took over six months and a letter to my MP and PALS to get mine through and in that time I was living in savings.

The other problem with employer led schemes is that no one needs to be a bad person for it to screw everyone over.

I'm going through this as the moment. It is very very clear I'm not returning to work in the immediate future but I don't currently have a firm diagnosis as to why I'm still ill all the time.

My boss wants to replace me. That's understandable. I'm happy to leave. But the moment I leave I am no longer eligible for medical retirement through the work pension scheme - something I may well be eligible for depending on prognosis. But I don't have a prognosis because I don't have a firm diagnosis. And of all the things doctors are interested in "not having a diagnosis is financially screwing me over" is not high. So we do a test and wait for results. Do another test. Try a different consultant. It's not like House. Getting potential autoimmune stuff diagnosed takes forever. Meanwhile my boss is getting more stressed because the office won't let her replace someone who hasn't left.

And this is private medical care. It's worse on the nhs.

Workers in the US aren’t paid for lunch breaks either. The reduction in pay isn’t from not having paid lunch breaks, the lawmaker in Kentucky wants to
“Aside from its language allowing companies to avoid having to provide lunch breaks to workers, it would also eliminate mandatory rest breaks and end the requirement to pay time-and-a-half wages to employees who work seven days a week. HB 500 also removes any liability for employers who don't pay workers for time on the clock traveling between jobs, and allows companies to not pay workers for tasks associated with starting and ending a job.”