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Two-Brains & his Magic Money Tree i.e. your wallet

Discussion in 'Personal' started by Vince_Ulam, May 8, 2018.

?

Do you want to pay more tax to subsidise 25 year-olds?

  1. No

    87.5%
  2. Yes

    12.5%
  1. Vince_Ulam

    Vince_Ulam Star commenter

    Give millennials £10,000 each to tackle generation gap, says thinktank

    [​IMG]

    'Every person in Britain should receive £10,000 when they turn 25 to help fix the “broken” intergenerational contract between millennials and baby boomers, an influential thinktank has proposed following a two-year study.

    The payment, described as a “citizen’s inheritance”, is intended to redistribute wealth at a time when young people need it most to find housing, return to education or start a business.

    It is also intended to reduce resentment towards baby boomers (born 1946-65) who have typically done better out of the housing market and pensions than any subsequent generation.

    The idea has emerged from the Resolution Foundation’s intergenerational commission, which has been working on the issue for two years and has now published its final report.
    The panel was chaired by David Willetts, the former Conservative universities minister, and included the TUC secretary general, Frances O’Grady, and the CBI director general, Carolyn Fairbairn.
    '
    TheGuardian.com & Joe Giddnes/PA, 8th May 2018.

    I think that they are serious about this unbelievably stupid idea.
     
  2. peakster

    peakster Star commenter

    I'd invest mine in Vanilla

    The pubs would do a roaring trade
     
  3. foxtail3

    foxtail3 Star commenter

    So, if you have already handed over £10,000 or more to the younger generation, does that make you exempt from the taxation? Or do you have to fork out again?

    There was a thread yesterday about a young man who was considering. PGCE course because of the subsidy. Perhaps that’s the answer.
     
  4. lanokia

    lanokia Star commenter

    Redistribution of wealth is a cornerstone of post-WWII British thinking... so this doesn't surprise me too much.
     
  5. MAGAorMIGA

    MAGAorMIGA Star commenter

    I'm all for it - certainly we can't carry on like this, with our children worse off than us and our grandchildren worse off than their parents.
     
  6. FrankWolley

    FrankWolley Star commenter

    I'd tax those on high incomes more (say those on more than £100K), and also introduce higher property taxes on properties worth more than, say, £500K.


    And before anyone says 'you're just jealous', let me say that the latter proposal would affect us...
     
  7. emerald52

    emerald52 Star commenter

    £10k is a drop in the ocean. Not nearly enough to pay off university loans or as a house deposit. Instead provide free higher education, Sure Start centres, Youth Centres and build a lot of social, áffordable and decent new housing.
     
  8. Caoimhseach

    Caoimhseach Lead commenter

    Just give your children the £10,000.
     
    mothorchid likes this.
  9. FrankWolley

    FrankWolley Star commenter


    This esp.
     
    monicabilongame likes this.
  10. Doitforfree

    Doitforfree Star commenter

    House prices would go up slightly as a result and there would be absolutely no benefit. The government needs to stop meddling in these utterly stupid ways. They NEVER learn.
     
    bonxie, blazer, lanokia and 1 other person like this.
  11. MAGAorMIGA

    MAGAorMIGA Star commenter

    The provision of a huge number of cheap, affordable houses (or houses built by and run by councils) is key. If it's all about the supply and demand in the housing market, increase the supply and legislate to prevent landlords buying them all up.
     
  12. Caoimhseach

    Caoimhseach Lead commenter

    That would be nice. Would you refund all university tuition fees and interest paid to date?
     
    bonxie likes this.
  13. Vince_Ulam

    Vince_Ulam Star commenter

    With limited scope, but also provide trade education.
     
  14. Vince_Ulam

    Vince_Ulam Star commenter

    Good point.
     
  15. JosieWhitehead

    JosieWhitehead Star commenter

    They had a scheme, some years ago, where grandparents could open a bank account for their grandchildren, tax free and with interest. Over the years we have paid into this and our grandchildren now are benefiting. This is a very good idea and also to tax those who work and are paid for it, in their retirement years. If they're earning good money then it doesn't mean they should be free from paying National Insurance. Many people are happy, in their retirement years, just to have time to enjoy not having to plough through the traffic to work and also having time to voluntarily do something good for their community.
     
    lanokia likes this.
  16. Caoimhseach

    Caoimhseach Lead commenter

    If you are working, you are not retired.
     
    applecrumblebumble likes this.
  17. FrankWolley

    FrankWolley Star commenter

    This is the phone in subject on R5Live today.
     
  18. Pageant

    Pageant Occasional commenter

     
  19. Shedman

    Shedman Star commenter

    £10,000 to hep buy a house? I wonder how much of that will be spent on a new car or a holiday?

    House prices are so expensive because of the disastrous right to buy policy of Thatcher. The money raised from council house sales went to the government and not to local authorities to reinvest in the local housing stock effectively asset stripping local councils. This scheme is a sticking plaster solution.
     
  20. applecrumblebumble

    applecrumblebumble Lead commenter

    The government need to get on with all the promises of building more houses and cap rents. All young people need housing and the excessive increase of buying a house has been one of the main factors for the difference in wealth.
    I’m with Emerald52 and Vince Ulam with regards to training, our economy will need to move away from the predominately service sector post brexit. Finally if you are working you and your employers pays NI even after SRA.
     

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