Rally Against Debt? It was more of a long queue

Lisa Hamilton, who observed the pro-cuts demonstration, was not impressed.

On 26 March nearly half a million people descended on the capital to oppose the government's cuts agenda and demand an alternative. Six weeks later 200 people (I'm being generous) stood on a pavement outside parliament to give a big "thumbs-up" to the same policies.

To say turnout at the Rally Against Debt was low is to be very polite. It was abysmal. Don't think protest. Think long queue.

In an attempt to gloss over the low turnout, one attendee has described the event as "not bad for a Facebook flashmob stunt". (Presumably the usual, good old Tory "blame it on the weather" excuse was rejected due to the unfortunately good weather.)

Hmm. A flashmob is, at least according to Wikipedia, a group of people who assemble to perform a seemingly pointless act often for the purpose of satire. A flash mob is not a publicised event with a shiny website.

The site (which hasn't been updated since a "we're trending on Twitter" post on Friday afternoon) promised a "great networking opportunity", a number of "high-profile guests" and "plenty to do" during the rally.

Unfortunately, the low turnout (Guido Fawkes claimed 500, but it looked less than half that to me) meant that most of the attendees already seemed to know each other and while Ukip's Nigel Farage had indeed flown in for the event, "plenty to do" seemed to involve standing increasingly closer together in order to make the crowd look bigger. There were also a couple of short-lived chants and EU flag-burning for those who like that sort of thing.

Toby Young, one of the most high-profile supporters of the rally, came in for mockery when he missed it – because he took his children to an exhibition about pirates at a (publicly funded) museum.

If the March for the Alternative suggested that a cross-section of society strongly opposed the cuts being made by the Tory government, then the Rally Against Debt suggested that white, middle-class, middle-aged men are opposed to taxation, don't like Europe or public services, but do like chinos, rugby shirts, looking after their own interests, and causing minor obstructions outside parliament.

The Rally Against Debt taught us nothing new. However, it did leave one big question: Why did this failure of an event generate so much news coverage?

Perhaps the snappers enjoyed the novelty of outnumbering the crowd.

You can find Lisa on Twitter: @lefty_lisa

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In your 30s? You missed out on £26,000 and you're not even protesting

The 1980s kids seem resigned to their fate - for now. 

Imagine you’re in your thirties, and you’re renting in a shared house, on roughly the same pay you earned five years ago. Now imagine you have a friend, also in their thirties. This friend owns their own home, gets pay rises every year and has a more generous pension to beat. In fact, they are twice as rich as you. 

When you try to talk about how worried you are about your financial situation, the friend shrugs and says: “I was in that situation too.”

Un-friend, right? But this is, in fact, reality. A study from the Institute for Fiscal Studies found that Brits in their early thirties have a median wealth of £27,000. But ten years ago, a thirty something had £53,000. In other words, that unbearable friend is just someone exactly the same as you, who is now in their forties. 

Not only do Brits born in the early 1980s have half the wealth they would have had if they were born in the 1970s, but they are the first generation to be in this position since World War II.  According to the IFS study, each cohort has got progressively richer. But then, just as the 1980s kids were reaching adulthood, a couple of things happened at once.

House prices raced ahead of wages. Employers made pensions less generous. And, at the crucial point that the 1980s kids were finding their feet in the jobs market, the recession struck. The 1980s kids didn’t manage to buy homes in time to take advantage of low mortgage rates. Instead, they are stuck paying increasing amounts of rent. 

If the wealth distribution between someone in their 30s and someone in their 40s is stark, this is only the starting point in intergenerational inequality. The IFS expects pensioners’ incomes to race ahead of workers in the coming decade. 

So why, given this unprecedented reversal in fortunes, are Brits in their early thirties not marching in the streets? Why are they not burning tyres outside the Treasury while shouting: “Give us out £26k back?” 

The obvious fact that no one is going to be protesting their granny’s good fortune aside, it seems one reason for the 1980s kids’ resignation is they are still in denial. One thirty something wrote to The Staggers that the idea of being able to buy a house had become too abstract to worry about. Instead:

“You just try and get through this month and then worry about next month, which is probably self-defeating, but I think it's quite tough to get in the mindset that you're going to put something by so maybe in 10 years you can buy a shoebox a two-hour train ride from where you actually want to be.”

Another reflected that “people keep saying ‘something will turn up’”.

The Staggers turned to our resident thirty something, Yo Zushi, for his thoughts. He agreed with the IFS analysis that the recession mattered:

"We were spoiled by an artificially inflated balloon of cheap credit and growing up was something you did… later. Then the crash came in 2007-2008, and it became something we couldn’t afford to do. 

I would have got round to becoming comfortably off, I tell myself, had I been given another ten years of amoral capitalist boom to do so. Many of those who were born in the early 1970s drifted along, took a nap and woke up in possession of a house, all mod cons and a decent-paying job. But we slightly younger Gen X-ers followed in their slipstream and somehow fell off the edge. Oh well. "

Will the inertia of the1980s kids last? Perhaps – but Zushi sees in the support for Jeremy Corbyn, a swell of feeling at last. “Our lack of access to the life we were promised in our teens has woken many of us up to why things suck. That’s a good thing. 

“And now we have Corbyn to help sort it all out. That’s not meant sarcastically – I really think he’ll do it.”