I believe the average annual starting salary for a graduate
range from 12k~18k pound (Tax of ard 20%) And if u look into why
the debt, it is not from their education fees since it is only 1k
per years irregardless of with course u took. (total 3k pound for a
degree) but from the student loan they took up to sustain their
school days. If you do the math, I am sure 10k is really peanut for
those holding a decent degree. I believe what concern them is those
aveage youth without any decent qualification that worries them. By
debt, I am sure the 10k are mostly bad debt from credit card and
over draft. (do u know the bank there give a 2k over draft to most
ppl; meaning u get to have a -2k in your bank balance? And the
credit card there offer 1 yrs no interest balance transfer for up
to 10k? Try to match that here in s'pore) With all those easy
credit temptation... it not surprising why youth there fall into
the debt trap.
Most of the moeny lender offer up to 3 time their client salary.
If it is a couple (combin household income) with an average of
30k~40k.. it shouldn't be much of a problem to own a decent house
outside London, zone 3. Needless to say for city outside
london.
What about those that can't find job or those with low income?
Beside the usual free educational system, they have benefit that
provide low rent council house (30 pound [S$120] per month for 2~3
rm flat, u even get to buy back the house after staying there for
20yrs with the initial cost price+inflation minus the rent u had
paid) and even pay allowance/food coupon/milk powder, etc for those
without job [abt 6k pound per year]. I know all this coz a mate of
mine is a single mum in her 20s living off social benefit.
What I'm trying saying is that the poor and needy is being taken
care of. Even those youth in debt. Since they are offer both free
medical, education and even social benefit while looking for a
job
What u are concern about if selfish ppl sponging on the system.
That is why there are agency that is being set up such that the
system is not being misuse. The system is not base on SELFISHNESS
as you had quoted. Think of it more in the mind frame of
distributing the wealth of rich (Since the rich are tax way more)
to help out and take care of the poor and old.
yes if the youth is hit, where will the next pool of NHS/ pension
$$ come from? That is why they get free education, interest free
student loan, benefit to help their family, etc.. offer everyone a
chance to get out of poverty and make education available to
everyone, not just those that can afford. How can you view paying
your share of the tax and carrying the burden selfish? Beside that,
If I pay my share, what so wrong with having a pension and free
health care?
Those 10k debt are mostly bad debt as a result of irresponsible
spending and normally associate with uneducated youth. Once trap
inside the debt trap, most such youth are unable to get out due to
the high interest rate that came alone with credit card. Do u know
that there is a minimum wages law, of rate 5.30 pound per hour
[S$16 per hour]. What i think they are concern about is the way
this certain group of youth spend $$ and getting into such bad debt
is rising.
Of coz their system is not perfect and there is pro and con.
that is why Gordon brown is trying to revamp the whole system. But
if you think that is bad.... what is you standard base on? Isnt
s'pore a good choice for comparison? If you think their system
sux... but yet it is better then what we are having over here....
so what do you have to say about ours? There, the gov take care of
those in need. Where else, here only the rich are ensure a good
life after retirement.... the poor and old are really left to fend
for themselves.
I had lived there for 7yrs+ and there is lot of thing that I hate
about there too... but that does mean s'pore is any better. Just
trying to point out that there is a better world out there. S'pore
is not as good as it label stated.
