Citizens Inheritance - Good idea?

[unexpected item]

Independent think tank (headed by Tory ‘two-brains’ Willetts) comes up with ideas to prise away young voters from the clutches of Corbyn.

I can hear the cries of “where do I sign?” already.

 

[el blue]

They should have done this with the quantitative easing funds so it circulated faster and improved the nation equitably instead of giving it to the banks to distribute to the already wealthy and credit worthy.

 

[I'm With Stupid]

The Tories love solutions like this because it'll make the price of every cheapish house go up by £10k, which will end up in the pockets of the current owners. They're generally less keen on solutions that will lower the price of property, even though that makes very little difference to anyone who owns a house to live in it. But this is an international problem. In Spain, you've got people taking out 40 year mortgages to be able to afford one. This is a good video about Spain, but a lot of it could apply to anywhere.

 

[denislawsbackheel]

No, classic displacement activity: the problems that need solving are difficult so do something else.
As posted above, the correct solution lies in the housing market. Also, education funding is a problem for millenials. My daughter hands over 10% of her income to service her student debt, ieaving her with no chance of buying a house.
Limit student debt and payback. Would wiping it out be more expensive than handing out 10,000? Ok, i realise you would still have to help those without debt, much more thought required. I thought Willis was supposed to have two brains!
How about large increases in death duties?

Student loans for current graduates are repaid at at 9% of any income above £21K a year.
How does that become 10% of her
income?

 

[KS55]

Student loans for current graduates are repaid at at 9% of any income above £21K a year.
How does that become 10% of her
income?

I had quite forgotten about the threshold, she seems to have been paying for ever. Its 9% of gross pay, deducted from net so, in effect, its more than the headline rate.

 

[Manchester33]

If we're being honest, this £10k gift isn't going to help anyone. It'll just inflate the housing market further. It really isn't that hard to pull your finger out and start saving money.

I'm 24, I've been a home owner for over 2 years. I just stopped going out as much, stopped buying expensive clothes, less fancy meals etc and saved that money. Most of my mates from school are still renting or living at home - the difference is they never stopped going clubbing, they all go out and put £70 up their nose, drive home in their brand new German car (on a shit finance deal) and then whinge that they don't have any money to put towards a deposit.

If you're happy with a materialistic lifestyle, that's fine. But it's not anyone else's issue that you can't afford a house.

 

[Scottyboi]

If we're being honest, this £10k gift isn't going to help anyone. It'll just inflate the housing market further. It really isn't that hard to pull your finger out and start saving money.

I'm 24, I've been a home owner for over 2 years. I just stopped going out as much, stopped buying expensive clothes, less fancy meals etc and saved that money. Most of my mates from school are still renting or living at home - the difference is they never stopped going clubbing, they all go out and put £70 up their nose, drive home in their brand new German car (on a shit finance deal) and then whinge that they don't have any money to put towards a deposit.

If you're happy with a materialistic lifestyle, that's fine. But it's not anyone else's issue that you can't afford a house.

The alright jack is in town everyone hahaha.

 

[cibaman]

It would go down like a ton of bricks with those aged 26-35 when it comes in.

 

[NorthamptonBlue]

Yeah but had they replaced say 50% of them the shit we are in now would only be up to our knees and not our chests !

It’s only when it gets above your chin that you need to worry

 

[inbetween]

If we're being honest, this £10k gift isn't going to help anyone. It'll just inflate the housing market further. It really isn't that hard to pull your finger out and start saving money.

I'm 24, I've been a home owner for over 2 years. I just stopped going out as much, stopped buying expensive clothes, less fancy meals etc and saved that money. Most of my mates from school are still renting or living at home - the difference is they never stopped going clubbing, they all go out and put £70 up their nose, drive home in their brand new German car (on a shit finance deal) and then whinge that they don't have any money to put towards a deposit.

If you're happy with a materialistic lifestyle, that's fine. But it's not anyone else's issue that you can't afford a house.

Agree with this, I bought my first house a few years ago at 26 and at the time was only earning about £20k. I think the difference is I worked whilst living at home to save up. It was tough and we gave up stuff but it is doable if you plan.

You don't even need £10k nowadays, help to buy is 5% and for a couple that is only £5k each and that gets you a £200k house..... Mortgage repayments are far less than renting so anyone saying they cannot afford the repayments probably can't afford to rent either.

Do I still get the money given I have worked since 16 and have a house, obviously though if I get it I will just get a refund of the money I have already paid in tax....