A Few Brutal Truths

Brutal Truths - 2018



  • Austerity means the state will provide less help than ever before
  • We are already being forced to contribute more for the help we do get
  • Parents are being forced to act as “The Bank of Mum and Dad”
  • The young are burdened with student debts of £27,000 for university tuition fees
  • Parents must o en contribute towards university living costs of £20-£30,000
  • Getting on the housing ladder is tougher than ever before
  • New affordability rules mean it is harder than ever to get a mortgage
• Average first-time buyers must find £30,000 – with 78% needing help from their parents
• Interest rates must rise – making buying a home even more expensive
• The elderly are having their savings decimated by care fees of £30,000 a year
• The country’s national debt – £1 trillion and rising – will have to be paid for
• The total amount of tax society pays will keep increasing – probably dramatically
• And all of this is against a backdrop where real wages have fallen

Ray McLennan

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