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Laurie Penny on why princess craze is no fairy tale

Young women need different models of femininity.

There is a princess in all our heads. She must be destroyed. As the press continues to glut itself on the Cult of Kate Middleton, businesses are cashing in on young women's insatiable lust for princess paraphernalia: fake tiaras and fashion handbooks play into the collective fantasy that one day, if you are beautiful and good enough, you too can marry a prince.

This saccharine tide of glittery pink kitsch began in the mid-1980s, amplifying a harmless daydream into a terrifying collective hallucination of good behaviour rewarded with royal privilege. Since Disney launched its Princess product line in 2000, aiming to get "three or four" pieces of spangly tat into every girl's bedroom, the tide has become a tsunami. Disney Princess is now worth £4bn, the largest girl's franchise in the world, and the fairytale doesn't stop with little girls: adult women, too, are playing dress-up, holding princess makeover parties and flocking to see Diana's wedding gown as it tours America, as serious female writers devote endless speculative column inches to the minutiae of Middleton's post-nuptial experience. Have we all gone mad?

Kate Middleton is the perfect modern-day princess, in that she appears essentially void of personality; a dress-up dolly for the age of austerity. The new royal facial muscles seem to be fixed with such permanence into that lipglossed rictus of demure compliance that when she opened her mouth to speak during the televised ceremony, I actually jumped. As it transpired, all she eventually said was "I will," as if someone had tugged a cord through the back of that custom McQueen gown to activate a voicebox of ritual acquiescence.

For a fairytale, it's startlingly unimaginative. Middleton's short journey from millionaire's daughter to Duchess of Cambridge has been awkwardly rammed into the rags-to-riches framework, with gushing commentators envisioning her as an everywoman who, by virtue of being pretty, unobtrusive and fashionably underweight, won the loan of a priceless tiara and a lifetime of comparisons to William's dead mother.

Middleton is hardly the girl next door, but the cult of princesshood is, at root, a cult of social mobility, a fantasy of class treachery whereby good little girls grow up to have their own maids and a butler. Popular children's books like Usborne's Princess Handbook have whole chapters on how to deal with the servants. This is the ultimate makeover fantasy, a fairytale of frilly, sequin-encrusted self-improvement that just happens to involve rigid conformity to the rules of contemporary femininity: smile and be silent, be beautiful and rise through the ranks, and you will be rewarded.

The handsome prince himself, as Peggy Orenstein observes in her excellent book Cinderella Ate My Daughter, is "incidental to that fantasy, a regrettable necessity at best". Once the royal ring is on the royal finger, once you've "nabbed" your royal, in the worlds of Sky's unmitigatedly disturbing reality gigglefest How to Marry a Prince his part in the story is over, and the reality of married life figures not at all. This ruthless, mercenary understanding of relationships is hardly a positive model for young people.

Orenstein notes that princess-mania is understood by some parents as a safe haven from 'premature sexualisation': the playboy bunny pencil cases and lolita tshirts for which other children clamour. Princesses are seen as the more innocent fantasy, holding a virtuous edge over lollipop-licking, pole-twirling teeny-whoredom. Am I alone in finding the choice less than inspiring?

Young women are offered two polarised models of submissive, pseudo-empowered femininity: the princess and the pornstar. This is a binary that has existed for centuries: virgin or whore, handsome prince or handsome pimp, which one will you grow up to fuck for fame and fortune?

Today's spectrum of feminine aspiration is a short colour run from sickly, pastel pink to hot, sexy pink, with the occasional detour into bridal white. But there is a whole rainbow of experience out there for girls to choose from.

The princess craze is not just a failure of feminism, but a failure of society as a whole to respect and treasure its young women enough to offer them more than a frothy pink fantasy of Happy Every After. There's nothing wrong with a bit of make-believe, but for little girls everywhere, there are better dreams out there than just wanting to be as pretty as a princess.

Laurie Penny is a contributing editor to the New Statesman. She is the author of five books, most recently Unspeakable Things.

This article first appeared in the 09 May 2011 issue of the New Statesman, Beyond the cult of Bin Laden

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I was wrong about Help to Buy - but I'm still glad it's gone

As a mortgage journalist in 2013, I was deeply sceptical of the guarantee scheme. 

If you just read the headlines about Help to Buy, you could be under the impression that Theresa May has just axed an important scheme for first-time buyers. If you're on the left, you might conclude that she is on a mission to make life worse for ordinary working people. If you just enjoy blue-on-blue action, it's a swipe at the Chancellor she sacked, George Osborne.

Except it's none of those things. Help to Buy mortgage guarantee scheme is a policy that actually worked pretty well - despite the concerns of financial journalists including me - and has served its purpose.

When Osborne first announced Help to Buy in 2013, it was controversial. Mortgage journalists, such as I was at the time, were still mopping up news from the financial crisis. We were still writing up reports about the toxic loan books that had brought the banks crashing down. The idea of the Government promising to bail out mortgage borrowers seemed the height of recklessness.

But the Government always intended Help to Buy mortgage guarantee to act as a stimulus, not a long-term solution. From the beginning, it had an end date - 31 December 2016. The idea was to encourage big banks to start lending again.

So far, the record of Help to Buy has been pretty good. A first-time buyer in 2013 with a 5 per cent deposit had 56 mortgage products to choose from - not much when you consider some of those products would have been ridiculously expensive or would come with many strings attached. By 2016, according to Moneyfacts, first-time buyers had 271 products to choose from, nearly a five-fold increase

Over the same period, financial regulators have introduced much tougher mortgage affordability rules. First-time buyers can be expected to be interrogated about their income, their little luxuries and how they would cope if interest rates rose (contrary to our expectations in 2013, the Bank of England base rate has actually fallen). 

A criticism that still rings true, however, is that the mortgage guarantee scheme only helps boost demand for properties, while doing nothing about the lack of housing supply. Unlike its sister scheme, the Help to Buy equity loan scheme, there is no incentive for property companies to build more homes. According to FullFact, there were just 112,000 homes being built in England and Wales in 2010. By 2015, that had increased, but only to a mere 149,000.

This lack of supply helps to prop up house prices - one of the factors making it so difficult to get on the housing ladder in the first place. In July, the average house price in England was £233,000. This means a first-time buyer with a 5 per cent deposit of £11,650 would still need to be earning nearly £50,000 to meet most mortgage affordability criteria. In other words, the Help to Buy mortgage guarantee is targeted squarely at the middle class.

The Government plans to maintain the Help to Buy equity loan scheme, which is restricted to new builds, and the Help to Buy ISA, which rewards savers at a time of low interest rates. As for Help to Buy mortgage guarantee, the scheme may be dead, but so long as high street banks are offering 95 per cent mortgages, its effects are still with us.