' Because surely if they set up home together and are equal on the finances then when separating they should be entitled to a share of the assets after a co-habitating for say years or more?'
And again, NO, they are not at all necessarily. There has to be demonstration of sharing of assets, payment into the assets not just co-habitation. It just doesn't exist in the UK.
The US and Canada are a completely different kettle of fish especially because the US has devolved some powers to states, including some powers of legislation and different states can have different laws regarding co-habitating couples, divorce and division of assets upon divorce, even laws regarding divorce (in Texas, for example, a couple with children has to have gone through mediation before a judge can grant them a divorce).
There is NO legal protection enshrined in law for unmarried couples who co-habitate in the UK. If they want it they have to get married or pay for it via a solicitor - ringfencing investments, for example, tenants in common on a house, wills, pension beneficiary, all sorts.
You just don't seem to get it, though, there are NO automatic rights for people who live with someone.
And for the most part, it appears people are happy with this because some have a point, why should a live-in lover have automatic rights to another's assets? Where do you draw the line? A disgruntled flatmate could claim to have been in a co-habitating relationship, all sorts.
Drawing a line in the sand by making it a fact you have to be married to confer certain legal rights makes it very clear.
There is no compo just because you lived with someone for a certain amount of time or even had kids with them. No matter how many telly shows you watch (do you really believe all the sob stories people who have High Court Enforcers at their door on Can't Pay are all telling the truth?).