Resolution measures?

by Readers Question

2 weeks ago

Resolution measures?

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Resolution measures?

The resolution body have announced several measures. One of these is to give every 25 year old 10,000. This means that a couple of 25 year olds will have 20,000 towards a deposit on a house.

Wonderful, this means that FTB houses just went up by 20,000 each!

It is not vendors who raise prices, but it is competition from buyers to buy which forces up prices.

Another few million for Lennie Pidgley!

#10 of the ten key policy recommendations of A New Generational Contract:

“Abolish inheritance tax and replace it with a lifetime receipts tax that is levied on recipients with fewer exemptions, a lower tax-free allowance and lower tax rates. Use the extra revenues to introduce a £10,000 ‘citizen’s inheritance’ – a restricted-use asset endowment to all young adults to support skills, entrepreneurship, housing and pension saving.”

David



Comments

Neil Patterson

2 weeks ago

Hi David,

As you say simple supply and demand economics 101, but also if you are given something you rarely value it.

Dylan Morris

2 weeks ago

Bit of a shame for the 26 year olds.

Phil Ireland

2 weeks ago

Who are these quangos who dream up this nonesense? And why has it been suggested that the elderly fund this ‘windfall’? The elderly paid their dues when they were working and owe nobody anything! I’d love to see how and who would be eligible for the £10k and how the criteria might be established. As usual, left wing socialist nonesense butnthankfully a big vote loser amongst those who do vote!

silversurfer2017

2 weeks ago

The idea has some merit but older people are already paying into this pot. Many of them already paid huge amounts of income tax and national insurance during their working lives. It is also mostly the estates of older people that have died that are paying the £5+ billion each year in inheritance tax. Let the government use some of this cash to fund the £10,000 to deserving young people. Presumably the government would need some safeguards to make sure it was spent to buy a property to live in and not for a new car or holidays instead.


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