It is “not fair” that people who have contributed £100,000 in National Insurance over the course of 30 years receive the same state support as those who have been paying tax for just two years, according to Liam Byrne.
In an interview with The Sunday Telegraph, Mr Byrne says young people would be forced to wait and work for longer before becoming eligible for benefits if Labour wins the next election.
And when older workers lose their jobs, they will receive higher rates of unemployment benefit and a “premium service” to help them back into work, he says.
I thought that pretty much everyone (except for the very highly paid that is) got more out of the welfare state than they put in.
For example, that £100,000 figure. On current annuity rates that just about pays for the old age pension. So if that’s all you have paid in NI then you’ve also had the safety net of unemployment pay and the NHS for free. Even if you’ve not used either of those: you’ve still had the insurance of you perhaps needing either or both.