Sunday

They save in ‘communist’ China but not in ‘capitalist’ Britain. Why?

A limited formal social security system means the Chinese save like crazy.

This is from a long article on the economic situation in China by Liam Halligan in the Sunday Telegraph.
The unintended consequence of the welfare state is that people save very little.

  1. The proposed top Capital Gains Tax rate would be higher than that in China, where the image of the late Chairman Mao, communist, is displayed on the bank notes
  2. Why don’t people save?
  3. Britain has the highest proportion of single mothers in the European Union and, surprise, surpise, one of the highest rates of benefits for single mothers
  4. European Union obstructs efforts to save people from MRSA
  5. In the jargon, “working and claiming”
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