Osborne speaks sense on gay marriage

Gay marriage is right and we must support it if we want to win, Chancellor tells the Tories.

George Osborne has always sat on the socially liberal wing of the Conservative Party, so it is no surprise that he is a strong supporter of gay marriage. But given the extent of opposition to the policy within Tory ranks (it is reportedly the top reason for members resigning from the party), it's still notable that he uses an op-ed (£) in today's Times to signal that the government will press ahead with plans to introduce it.

With an eye to Obama's victory last week, the Chancellor rightly concludes that social liberalism is the only electorally viable position. He notes that the Republicans "lost swathes of voters who were on their side of the economic argument" because of their stances on abortion and equal marriage, adding that he wouldn't change "the current abortion laws" (as his voting record indicates) and that he supports gay marriage "on principle".

But, as ever, Osborne, who is both Chancellor and the Tories' chief election strategist, also has psephological considerations in mind. He believes the Tories should support gay marriage not just because it is the right thing to do but because it will help them win in the future. Osborne slightly overstates his case by writing that a "clear majority of the public support gay marriage" (the polling evidence is more mixed, although polls generally show at least a plurality in favour) but his wider point - that support for gay marriage is only likely to grow with time - is spot-on. In an echo of Tony Blair, who Osborne refers to as "the master" for his election-winning abilities, he writes that "Successful political parties reflect the modern societies they aspire to lead". To this end, the Chancellor confirms that the government will "introduce a Bill to allow gay marriage."

Already, however, his comments have prompted a backlash from Conservatives. Stewart Jackson MP tweets that the Chancellor "should focus less on social liberal obsessions like gay marriage & more on outside M25 priorities like jobs, taxes & growth". It is, of course, possible to do both. What Tories like Jackson really mean when they say the government should "focus" on other issues is that they don't want it to ever introduce gay marriage. So long as the Conservative Party continues to boast such figures in its ranks, many socially liberal Britons will feel unable to vote for it.

George Osborne said the government would "introduce a Bill to allow gay marriage". Photograph: Getty Images.

George Eaton is political editor of the New Statesman.

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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.”