Citizens Inheritance - Good idea?

bluethrunthru

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David "Two Brains" Willetts, former Tory Cabinet minister and now at the Resolution Foundation, has been involved in writing a report which has many radical ideas - amazingly given his background it amounts to a redistribution of weath by giving a £10k " citizens inheritance" to the young funded by taxing the old.

quote -

The oldest millennials will soon be 40 ... we have to make a bold offer to get them part of the property-owning democracy

David Willetts

Thing is he gets it - Conservative policies speak to the wrong constituency - Conservatism needs votters who have something to conserve ie something they own. Millennials don't own their own home, they often have nice cars instead but they don't own them - they lease !

Quote -

" the evidence was there before the crash of 2008. Young people were being priced out of the housing market from the early 2000s. “We have wasted 10 years trying to recover from the crash,” he says. “We can’t waste another 10 years on Brexit. We need to act now.”
“Too many young people are left feeling that our nation’s priorities lie elsewhere and not with them. Older generations have more wealth but, despite decades of promises, no social care system adequate to provide the support they deserve, need and expect.”

So the citizens inheritance is the most eye catching of the ideas in the report which effectively sets out how Willetts thinks the Tories can be handed a lifeline and how the Corbyn threat by the appeal to the younger voters can be nullified by making them an offer that helps them.

Thing is, is it a goer?
 
Build affordable, quality housing, run by, and with rents set, by local government. Don't allow people to buy them. Market pressure will bring down extortionate rents in the private sector and reduce the over inflated house prices in this country. People can then realistically aspire to saving for a deposit on their own home.

It's as simple as that but nobody wants to do it because too many rich people will be a bit less rich and MPs like the dividends they get from all the house builders.
 
I'm 26 and a homeowner, largely thanks to a very generous gift from my parents.

I am not deserving of a £10k hand out taken from someone who is less well off than myself and less able to affect their income (if I want £10k them I'm able to work hard for salary increases, unlike someone drawing a pension).
 
I'm 26 and a homeowner, largely thanks to a very generous gift from my parents.

I am not deserving of a £10k hand out taken from someone who is less well off than myself and less able to affect their income (if I want £10k them I'm able to work hard for salary increases, unlike someone drawing a pension).


However yours is a fortunate position which is very much not the norm which I think is what Willetts wants to address. The report wants to get away from the privilege of having the bank of Mum and Dad and to try and skew things more in the benefit of the young to stop their disillusion with society and disenfranchisement with politics.
 
What could be wrong? Rob the OAP's and give it to their degenerate grandchildren to buy more video games. Sounds fair
 
I'm 26 and a homeowner, largely thanks to a very generous gift from my parents.

I am not deserving of a £10k hand out taken from someone who is less well off than myself and less able to affect their income (if I want £10k them I'm able to work hard for salary increases, unlike someone drawing a pension).
You're too old by a year anyway so no need to worry.
 
I think they are forgetting one thing...

People of the previous generations, like my parents, saved like buggery to get a deposit on their first house. Nearly everyone did this. Nowadays most youth spend it on shit trousers that show off their arse cracks and drugs.

Flippancy aside, promoting a saving economy rather than just handing out 10k for a deposit, will help them out in the long run. Or be more like the rest of the world, rent. If any of our governments actually sorted out the landlord/ rental situation then renting would be a viable solution. A long term rental is usually suitable for both parties. The trouble is when a landlord keeps jacking the price up, can kick people out at a moments notice, can provide squalid living conditions without fear of penalty renting is not viable.

Dead against a 10k handout. It will provide the lazy with another excuse not to do fuck all safe in the knowledge that a deposit is ready and waiting for them.
 
The 2 clasifications
Baby boomers (1946-1969) and millenials (1985- peresent) mean fuck all to me as I was born in the 70s and am not classed as either, bit will no profit from this and epect to pay, but probably I am a financialy bad off as the more recent group when it comes to buying a house (which I don't have as I rent)
 
How will they pay for it? Thought there was no money left?

What about the baby boomers who were made redundant by Thatcher and never fully recovered?

Will rich kids get this money too?

Low interest rates mean no one wants to save any more even if they could actually afford to save.
 

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