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Free childcare for under 2's - the truth

5 replies

CassandraW · 29/11/2011 09:56

This is probably at the request of the banks.

It is not a government plan to help women it is so they can get out to work and buy a house with a joint income mortgage. These are what drove house prices up together with deliberate loose lending.

The banks are starting to fear that people are getting wise to the debt burden that higher house prices bring and the mortgage indemnity scheme and free childcare are both designed to try protect their profits.

Think about it.

Mortgages were 3 times main income plus 1 times joint but now they are 4 times joint income. Using salary as the then £18k and £9k that was a £63k mortgage but using £25k and £15k now it would have been £87.5k but is now £160k. That is why house prices have gone up so much. In the past not as many women had to work to put a roof over their heads, lots stayed at home but with HPI via joint income mortgages they are now forced to work. The banks want free childcare so that women do go to work. Due to the increased interest payments coming from the larger mortgages via more women working the banks are making more profit and so bonuses.

People should stop applying for joint income mortgages and shared equity schemes. Your second income only feeds a banker's bonus. Better that house prices drop then you don't need to go to work but if you want to you can spend it some on childcare and the rest on luxuries - not just give it to a banker.

OP posts:
LIZS · 29/11/2011 17:07

Isn't it for some over 2's Hmm. tbh you seem to be seriously overthinking the motivation for this.

molly3478 · 29/11/2011 17:08

I think your wrong you hardly ever meet a mum who qualifies for the pilot scheme who works (in fact I have never met one and worked with about 50 families who qualified for it). Its just extending something that has been in place for ages.

vj32 · 29/11/2011 17:37

I thought it was childcare for people in low incomes - most of whom won't work. Its about early education, as supposedly poor=bad parent. (I agree it does sometimes, but this kind of policy seems to suggest it does always.)

mumblechum1 · 29/11/2011 17:38

I think it's only for two or three hours a day, so not aimed at working parents.

CogitoErgoSometimes · 30/11/2011 06:32

"People should stop applying for joint income mortgages "

Why stop there? Maybe women should forego bank accounts, credit cards, HP agreements so that they don't give money to bankers? I know, let's make women totally dependent on their male partners for financial matters.... have them disappear into the woodwork, stop owning property or investments like they did in the past.

You're talking rubbish.

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