The problem is that the government can change the rules at any time, so the populace can't really plan into the long term. As far as I am concerned we had a contract that allowed me to retire at 65. The government has reneged on that so now I have to work longer. There are less young people paying into the pot. The reason that there are less young people is because a great number of my generation put off having a family to get on the first rung of the property ladder. If they had children, they had them later.
A house buying public is great for a government. Tax revenues increase through the purchase of the house, improvements, furnishing etc. It also keeps the population in debt, and therefore productive, creating more revenues through taxation of income and expenditure. When those with houses find themselves with spare cash they invest in more houses, usually to rent out at high rents. Those renting them are in an odd position of being able to afford to pay someone else’s mortgage, but can't get one of their own. They probably work in low paid or minimum wage jobs, finding themselves with little disposable income, and due to their low wage, little going into a pension. Their long term outlook is bleak. They may never retire. Those of us close to retirement either need to count ourselves lucky, or stop the government peeing so much money up the wall on vanity projects such as HS2, garden bridges, nuclear deterrence, etc., and also outrageous costs such as Westminster. We need MPs to sort out the tax laws to stop the wealthy undermining the country by off-shoring their wealth, especially when the homeless die on the streets of Westminster under the noses of our politicians, who drink subsidised alcohol in their bars at work, with their highly subsidised meals.
Edited by BigMouth, 19 January 2019 - 01:59 PM.