Ajw71 wrote:
Put some money away each year in an ISA. Rainy day fund.
I think you're missing the point somewhat and unfortunately its also a point that many politicians miss and what causes "normal" people to believe that they are out of touch with reality - that is that there are millions of hard working parents who are on, or near to, the minimum wage and for whom working 40 hours a week means a gross income (BEFORE deductions) of £247 per week.
Even with just two children and a partner working part time a family on that level of income just does not have any spare cash at the end of EVERY week to put money into savings or expensive income protection insurance policies (and they are expensive, believe me) - to use your example if that family wanted to pay into a cash ISA and use their maximum tax free allowance each year they would have to find £110.76 PER WEEK in order to save £5760 "for a rainy day", that fund would provide the same level of income for the main breadwinner for 23 weeks if they were suddenly jobless (keeping the figures nice and simple without regard to interest rates or tax, NIS etc).
You simply cannot take £110 out of a pay packet of £247 EVERY week.
Of course that is where tax credits kick in, and housing benefits (if in rented accommodation, if not then tough) and without them most of the millions of families that I speak of would be destitute.
That is the reality even for small families and its far, far too easy for critics to point and sneer and spout garbage such as "don't have children then" or "cut out the beer, fags and bingo" or "benefit dependent culture" whereas in reality those critics, including members of parliament, have not the first idea of what life for millions of low waged is like and flipant replies like "Get an insurance policy" or "Put money in an ISA" show a level of ignorance that is staggering.
