Govt considering u-turn on WASPI compensation

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https://news.sky.com/story/government-to-reconsider-whether-to-give-compensation-to-waspi-women-13468696

Oh God no 😖😖😖😖

But in those days when women staying at home looking after their children, rather than going out to work, was common, that obviously meant that the family didn't incur any childcare costs from the household's income/husband's earnings.

Many, many parents of young children nowadays have to pay out the equivalent of one salary just in childcare - so they now have a mortgage based on two salaries, but still only one actual salary in real terms to pay it off with.

There was MIRAS as well, until about 1999/2000.

But that doesn't make it "just as affordable". That a house costs more, of a higher household income could never be described as "just as affordable" whichever way you look at it. You're explaining it clearly, but you are wrong.

@Politicians247UnderwearExtinguishingService l forgot to mention MIRAS. My husband is a bit younger than me and l mentioned MIRAS to him. He thought l was joking and making it up!

@Scotiasdarling but my house isn't "better" than my parent's house or in-laws house. Even though my husband and l are better qualified and work harder

One last try at explaining. Your house isn't 'better' because now it takes two incomes to buy an ordinary house. The minute some families bought houses based on two incomes , because house prices are market driven, everyone had to do that. Why do you think the exponential rise in house prices happened alongside more women working?

And Dingdongdoo I am absolutely not wrong.

politicians underwear, you surely knew you would need childcare? Although it is subsidised by the taxpayer now. You could have borrowed less until your children were in school.

I feel like you are now arguing the opposite to what you started out...

I think you haven't quite grasped this.

The new State Pension is £230.25/week while the old State Pension is only £176.45/week. There will be no financial loss as WASPI women will eventually receive a much higher pension albeit for 5 years less.

You seem to be missing the point. Houses are effectively half as affordable as they used to be. That means not only do younger people have to work twice as hard for the same house and pay for childcare (which is still thousands a year even with subsidies) but who made profit on the houses when they jumped from 1 salary to 2? Thats right, the older generation.
And even if that weren't true (which it is btw) the 'waspi' women still have no sensible reason whatsoever to demand compensation. Everyone lost out by having to work longer. None of us were personally informed. And if you had been, then what? What exactly would you have done differently? You'd have just had to work longer which we all did, whichnis exactly the same outcome whether you had 3 months notice or 300 months.
I mean unless you decided to spend all your savings on a massive round the world cruise or something, assuming you'd have a pension to rely on when you got back, without checking that was the case. But if so then that's on you!

You've just said it yourself. An ordinary house now takes two incomes to buy. So how exactly is that "just as affordable"? Not only are you wrong, you are completely contradicting yourself.

politicians underwear, you surely knew you would need childcare? Although it is subsidised by the taxpayer now. You could have borrowed less until your children were in school.

No, we didn't have to pay for childcare personally, as we were fortunate to be able to both go part-time and were able to manage it ourselves... but we were able to buy a house 25 years ago, at prices that hadn't yet gone crazy - based on households all having two full-time incomes, and single people be damned too.

Affordability is based on the incomes that people want their borrowing to be based on. That used to be one income, now it's two. House prices are not set by some pensioners cabal, they are what people can and do pay for them. If they want that amount to be a multiple of joint salary then obviously the repayments will reflect that.

House prices could have been kept as a multiple of one income if the banks only loaned that amount, and imagine the wailing an gnashing of teeth on here if women felt that their stout economic effort was being disregarded. It's a case of being careful what you wish for.

@CanadianCooper

Sorry, @CanadianCooper I accidentally quoted you.

Oh dear God
This thread 🤦‍♀️

It's nothing to do with this
In 2011 the CG accelerated the changes , everyone knew that the changes were coming,the WASPI women were affected at short notice by the acceleration .
That's what the campaign is about -the lack of notice in 2011.

The ageism and misogyny on MN is appalling
People who have worked for 40 years being derided whilst 35% of the adult population pays no tax at all.
We need to bring in a basic universal wage and stop people staying on benefits as a lifestyle generation after generation those with disabilities not included

This would bring in billions , protect SAHM, allow people to take time out for caring responsibilities and stop the triple lock.

So interesting to see what the consensus is here - I don't think the government will actually do this. I seriously hope not. The money would be so much better spent getting young people off benefits and into work. The Boomers get too much already! (Pension Triple lock etc)

Very interesting argument that house prices are heavily driven by the debt markets, which I don't disagree with in some senses...

...but not sure why that means WASPI women get a payout?

Where do people like me fit in? I'm basically Nicky, 30 ans... paying for both pensions AND assorted other benefits. If you don't want us stereotyping boomers as all being wealthy scroungers, don't stereotype millennials as all being out of work...

40 years of working isn’t actually that long though. I will probably end up doing around 55 years

But yeah the triple lock needs to go

This
Everyone I know is helping their adult children onto the property ladder, helping them financially and providing childcare.

The greedy Boomer is a myth, I don't know anyone like this

I didn't
Read again 35% of the population don't pay tax
I didn't mention Millenials, you did

Well its clearly not a myth or we wouldn't have the waspi campaign. Its obviously not everyone though.

But what would more notice in 2011 have achieved? People would have to work longer. Thats it. Thats the same however much notice you get. I really truly don't understand why that's a basis for compensation.

They are only greedy in your eyes
Retirement planning usually takes place over a considerable period
They were told in 2011 that they had to work an extra 3 years when they had almost reached retirement age.
That's where it is unfair
It has already been ruled that DWP changes in 2011 were unfair and they didn't receive enough notice so it's a moot point anyway.

100% of the population pay tax of some sort even if it's just VAT on shoes & clothes.

Yes we all pay it
Clearly it refers to income tax