It’s been a difficult month for me. The team I was on at work was disbanded and we were offered voluntary redundancy. The redundancy package wasn’t as much as I had hoped for so I have decided to stay and I’m looking for a new role. The company have protected my wages for 6 months but if I can’t find anything on my current pay grade I’m facing a massive pay cut. I’m keeping my fingers crossed because I’ve got a mortgage to pay.
During his spending review speech in Parliament George Osborne stood at the dispatch box and accused people of getting into more debt than they can afford. He thinks people should learn to live within their means. Well I did borrow within my needs and got a mortgage based my current wages. I now face a 20% pay cut so, like thousands of others, I’m in danger of having my ‘means’ taken away from me.
The banks have spent the last 15 years lending vast amounts of money to businesses which had virtually no chance of ever making enough money to repay the loans. They have lent money to people looking to buy homes in a vastly overpriced property market. Overpriced due to the 100%+ mortgages the banks were offering people in the first place.
I would just like to say to Mr Osborne that the banks must take some responsibility. Many of the people who have taken these huge mortgages are young couples who did so because they needed a home. A large number of them now face losing their job due to the cuts and the economic disaster caused by the very same banks that landed them in unmanageable debt.
During the same period the credit card companies (owned by the same banks) were constantly increasing card credit limits. Many people will say that just because the credit is available you aren’t forced to use it. If the fridge stops working, the car breaks down, the kids need new clothes etc. but you’ve no money it’s very difficult not to use a credit card.
Most of us live in the real world not the wealthy Tory bubble. We haven’t all got rich parents to bail us out when times are hard. Unlike Mr Osborne most of us aren’t the heir to a baronetcy or have a personal fortune of at least £4m. Unlike David and Samantha Cameron most of us don’t have a combined wealth of over £30m and parents that own half of Yorkshire. These people don’t know what it’s like to make ends meet, to live on minimum wage or to face losing their home when made redundant. Even Nick Clegg comes from a rich family of Bankers (his father is chairman of United Trust Bank, and is a trustee of The Daiwa Anglo-Japanese Foundation).
When they tell us we are all in this together they are lying. They have not introduced any huge changes to the banking system, they haven’t forced corporations to pay the £40billion owed in unpaid taxes, they haven’t dealt with the ‘non-dom’ tax status of people like Lord Ashcroft and they are still hitting the poorest people hardest.
The new Tory party is just as bad as the old Tory party. They steal from the poor and look after their own kind.
“Never had it so good”, don’t make me laugh!!
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