briantrumpet
Timewaster
BTW, I definitely went as 1) I wanted to learn more about music 2) I might as well, given it was fully funded, accommodation and all (albeit at £35 per week all in for accommodation and three cooked meals a day).
Worth noting that benefits based on contributions (eg State Pensions) are not funded from general taxation and are legally ring-fenced and often run a surplus. Surplus can be/is loaned to the Government. NICs do not go into general taxation "pot".
BTW, I definitely went as 1) I wanted to learn more about music 2) I might as well, given it was fully funded, accommodation and all (albeit at £35 per week all in for accommodation and three cooked meals a day).
TL;DRI have heard/read this claim before, is it actually true?Worth noting that benefits based on contributions (eg State Pensions) are not funded from general taxation and are legally ring-fenced and often run a surplus. Surplus can be/is loaned to the Government. NICs do not go into general taxation "pot".
The Great Britain NIF had a surplus of over £34 billion as at 2005/06, £38 billion in 2006/07 and the Government Actuary's Department forecast that this surplus would grow to over £114.7 billion by 2012....
The surplus is loaned to the government through the Debt Management Office (which is part of the Commissioners for the Reduction of the National Debt), via instruments termed 'Call Notice Deposits'.
https://en.wikipedia.org/wiki/National_Insurance_Fund
Maybe most relevant bit "there is no question of the Government being in a position to use this facility to extract money from the Fund as an extra source of revenue."How National Insurance Contributions and pensions work
NICs are paid by employees, employers and the self-employed in the UK and pay for contributory benefits, mainly the state pension. So for the most part, today’s workers are paying the pensions of today’s pensioners.
Unlike most taxes in the UK, NICs are paid into a specific pot called the National Insurance Fund, rather than being put with the rest of the tax money collected for the Treasury.
Huge sums of money flow into and out of this fund every year. In 2017/18, about £100 billion went in via NIC contributions and about £100 billion left the fund again to pay for benefits.
But the fund doesn’t always end up in balance. In some years, it needs to pay out a little more in benefits than it gets in contributions—a deficit. In other years, it pays out less than it receives—meaning it’s in surplus.
...
In its response to a freedom of information request earlier this year the government said:
“The latest National Insurance Fund Accounts show that the balance of the NIF increased by [£2 billion] in 2017/18…. This resulted in a closing balance of [£24 billion], which was paid into the [National Insurance Fund] Investment Account and, in practice, used to reduce the national debt”.
The House of Commons Library says in its briefing on National Insurance, “Since 2007 the Fund has been invested in the Government’s ‘Call Notice Deposit Account’, administered by the Debt Management Office… It is worth emphasizing that these funds are being held in this account on loan… there is no question of the Government being in a position to use this facility to extract money from the Fund as an extra source of revenue.”
from https://fullfact.org/economy/money-national-insurance-contributions/
TL;DR
Maybe most relevant bit from below is "there is no question of the Government being in a position to use this facility to extract money from the Fund as an extra source of revenue."
From Wikipedia
From Full Fact
Maybe most relevant bit "there is no question of the Government being in a position to use this facility to extract money from the Fund as an extra source of revenue."
Too often society considers a trade a "fall back position" when, in fact, a bloody great living can be earned. Too many people in other walks of life look down on tradesmen - when on Cakestop, one regular contributor (now regular) on here called tradesmen "fairly basic people" (which has always stuck in my craw) ...
And especially not at 18.Not all kids are academic.
i think it depends on the method. eg address the reason behind why so many think they cannot work for health reasons. Address the NHS so those unable to work can receive treatment and then return to work rather than benefits I suspect would get plenty of Labour MP support.
Totally agree. A very sad, and wrong, story from my school days circa 1997. We had the usual line of "must aim for Uni else you're life is over". But they introduced a (b-tech or something) course for motor mechanics. There were precisely 4 people on the course, all of whom had mild learning difficulties i.e. were not expected to get GCSE grade A-C in any of the subjects. They were seen as special needs, dummies, who could only do vehicle mechanics because they were too thick to do normal subjects (not my view I might add). We all know of course that everyone is intelligent in their own right, if the yardstick is appropriately positioned, and not just placed in a purely academic footing.Too often society considers a trade a "fall back position"
I'll add to this that there was a time when it was fairly easy to do additional academic qualifications if you missed out at school. We had a thriving night school culture where adults could go back and take GCSE and A levels in all sorts of subjects. That's gradually been pared back to Maths and English, with little space for other subjects. It would be nice to see cheap academic evening classes being more of a thing again.
Agreed. So many of us need to mature a bit, and have some experience of the world before we can usefully study.