Gutted about NI rise

[CarryOnNurse20]

I know we need it and we have so much money to pay off. But we have been scrimping and saving after a hard couple of years. Every penny is accounted for from pay day to pay day. I’m a nurse and my pay has been capped/below inflation my whole career. And now the NI rise means any savings etc we have made will now be gone. I’m gutted.

What does it matter why the govt did it, if it was the right thing to do?!

I think it was a good thing, I just don't agree with the common narrative that they are the new benefit scroungers.

On furlough people hot paid 80% of their wages and saved on different costs.

There was a cap though & plenty would have seen a significant drop. Plus costs varied. The people who benefited from no rail travel, expensive lunches & saved £££ were not necessarily furloughed hospitality workers but people who had high paying jobs & simply worked from home.

*@MrsCat and @MrsCat1

Average stay in a care home is 4 years - and given the increase in dementia cases as reasons for residential care being required - thisnis likely to increase rather than decrease.

@Allycott why do you not believe that some people want a better system? We have high incomes & expensive london property but I recognise that a better society for all & increased social mobility also benefits me.

@Feelingoktoday

I agree. I do not want to sound time in a care home. I would rather die peacefully before that.

My dad used to say he'd be happy just to make it to 70...until he got to 69!

littlebillie then if they want luxury that boat for it themselves. How hard is it to understand.
I do not want my hard earned, and below the stated average income, to pay for luxury care. Whilst the offspring of these receiving this luxury care inherit vast wealth. No I'm not up for that. If you don't like it then sell your parents property and you are most welcome to pay for luxury. If you expect the tax payer to fund it then it absolutely needs to be at a much more affordable level. And once again for the hard of thinking council run accommodation is not run for profit. Private care is profit driven and pays dividends to share holders.

Passing money down the family later in life isn’t helpful or conducive to a well working society

This is a really important point

@Lunaduckdrop

Yes, NI is a regressive tax because the threshold is so low. But people voted the Conservatives in. Conservatives will always shaft the low to middle income earners in favour of wealthier and older people who they perceive to be their voters. If you don't want this sort of measure, don't vote for them next time.

What would Labour have done? Considering the last time they were in power, Blair/Brown increased NIC twice, i.e. hitting mostly the low to middle earning workers!!

I think when they looked at the numbers they realised a lot of people would never own their own home in the future and a further large number are struggling with some pseudo home ownership such as 25% shared ownership. Plus an ever larger number who will never pay off their mortgage. So a new funding model is required.
When they were first mentioning a cap in self-funding the cost for the average care home stay worked out at roughly the cap. But it’s a good headline, isn’t it.

I for one am happy to go before I linger in a nursing home

I agree.

@Blossomtoes

a wealthy person with cancer gets free treatment, a person with dementia doesn't.

That’s because there is no treatment for dementia. It’s a terminal disease.

There's no treatment but they still need care.

@twinningatlife

Problem is it's going to unfairly affect the "younger" working population who have already born the brunt of the covid crisis financially - we all knew there would be a long term price to pay but it needs to be across the board and crucially all age groups including pensioners who largely financially haven't been affected in the last 18 months the same way the tax paying working population has but also it needs to be means tested

this

When they were first mentioning a cap in self-funding the cost for the average care home stay worked out at roughly the cap. But it’s a good headline, isn’t it.

Good point

Not All firms paid furlough. 2 of my family members were simply 'let go of' and received not one single penny in benefits.
So another reason why I will not support this bloody increase.

surely wealthy pensioners will be paying more tax on their income Pensions etc.Thats after years of paying tax so young people can have an education NHS treatment etc

18:56Badbadbunny

Lunaduckdrop

Yes, NI is a regressive tax because the threshold is so low. But people voted the Conservatives in. Conservatives will always shaft the low to middle income earners in favour of wealthier and older people who they perceive to be their voters. If you don't want this sort of measure, don't vote for them next time.

What would Labour have done? Considering the last time they were in power, Blair/Brown increased NIC twice, i.e. hitting mostly the low to middle earning workers!!

Who mentioned Labour? Not me. Blair wasn't that far from Thatcher anyway.

@Nottogetapenny

Many older people saved money by make do and mend! They did not spend money on needless things, keeping what little money they had for a ‘rainy day’ No latest must have mobile phones or gadgets, take away meal, latest fashions, then because they have been careful they are then told to pay for their care. Older people didn’t have it easy, they just did without and still do.

Because those things didn’t exist

No doubt their parents would’ve thought they were frittering away money on ‘new’ inventions like hairdryers and televisions

You can’t seriously think working people are skint because of too many takeaways, while the boomers can afford second homes in Spain because they didn’t have a weekly curry?

If only politicians would have a proper debate over the right to die and stop voting down any kind of euthanasia for people that want this right to take their own lives if they want to.
I bet that if they opened up a clinic that was properly regulated etc it would prove to be a popular move. It works well in Switzerland.
I understand all the arguments against this, but it appears popular with anyone I talk too about it. Who wants to live without any dignity and have to pay thousands to be kept alive to fund the care home owners Ferrari ?
Not many of us , but this is the reality too many times over :(

@weresouth

Yes, another thing that’s wrong with the world.

I don't disagree but that won't change until employers change their requirements.

Which will never happen when circa 50% of school leavers go to Uni!

@threecee No, this is the issue, those of state pension age and above don't pay National Insurance (whatever their income), so any rise in NI has no impact on them.

@lllllllllll

It simply should not come from the poorest in society who are already struggling.

I do think you're right on that point. As I've said, I'd rather it was paid through income tax, with the highest earners paying the most.

I believe Corbyn would have ensured that happened but most people on Mumsnet seemed to despise him.

Wasn't Corbyn the one who torpedoed Theresa May's attempt to tackle this problem by calling it the dementia tax? Instead he announced a £10b package for no one to pay for any social care but never said how it would be funded. And how many billion did he promise for women's pensions? £58b. I don't know how he would have funded it and I'm pretty sure he didn't know either. I didn't despise his ideas, I despised his maths.

@weresouth

And god help us when interest rates rise to a more normal level again ... does anyone really imagine they'll stay at damn all for ever?

I don't see how they can raise them, especially against a backdrop of NI increases & income tax freezes & likely more wage stagnation.

Who are "they"?

Our own government has very little control over interest rates. As a country, we're borrowing trillions, and it's the people we are borrowing from who will decide on interest rates!

If interest rates, globally, increase, then there's bugger all the UK government can do to stop that filtering through to loans, mortgages, credit cards, etc etc.

@littlebilliie

We need to go down the Japanese route everyone over 40 pays an additional 10% tax to fund social care

Um, no. A huge percentage of over 40s still have young children at home and all the associated costs.

Inflation will bring interest rate rises globally, these rises are coming.

A huge percentage of over 40s still have young children at home and all the associated costs.

Another ticking time bomb. People having children late is going to be a real problem in years to come.

We need a proper, long-term review of where our society is going to avoid another mess like this one.

I think it’s a good idea but low earners should be exempt.