Search

View from the House: Helping young people get on in life

PUBLISHED: 08:00 17 December 2017

PA Wire/PA Images

I’m really pleased the November Budget contained several measures which are designed to help young people achieve the goal of becoming homeowners.

From the day of the Budget, the price at which a property becomes liable for Stamp Duty rose to £300,000 for first-time buyers.

The average price of a first time buyer property in Chingford & Woodford Green is around £300,000, so this means a saving of £5,000 for people buying their first home at that figure. This means an estimated 80 per cent of first-time buyers will pay no Stamp Duty at all.

The government also decided that people aged up to 30 will now be able to buy a £30 railcard for discounted train travel.

This railcard will allow discounts of up to 1/3 on travel until the age of 30.

To make sure work pays and families and young people can keep more of what they earn, the government will also be increasing the Personal Allowance, that is the point at which people start paying Income Tax to £11,850 from April 2018. As a result of this, a typical basic rate tax payer will be £1,075 a year better off compared with 2010.

The National Living Wage will rise 4.4pc from £7.50 an hour to £7.83 from that date.

This will mean that since its introduction the National Living Wage has delivered a £2,000 pay rise for the lowest paid.

I hope you will recognise that where possible, the government is helping people to get on in life and through measures like this, focusing much of that effort on young people to help them get on in life.

0 comments

Welcome , please leave your message below.

Optional - JPG files only
Optional - MP3 files only
Optional - 3GP, AVI, MOV, MPG or WMV files
Comments

Please log in to leave a comment and share your views with other Ilford Recorder visitors.

We enable people to post comments with the aim of encouraging open debate.

Only people who register and sign up to our terms and conditions can post comments. These terms and conditions explain our house rules and legal guidelines.

Comments are not edited by Ilford Recorder staff prior to publication but may be automatically filtered.

If you have a complaint about a comment please contact us by clicking on the Report This Comment button next to the comment.

Not a member yet?

Register to create your own unique Ilford Recorder account for free.

Signing up is free, quick and easy and offers you the chance to add comments, personalise the site with local information picked just for you, and more.

Sign up now

Latest Ilford News Stories

18 minutes ago

One brothel is shut down every week in the borough on average.

Yesterday, 18:16

Redbridge’s Asian community was treated to a lively afternoon of music and dance to celebrate their past achievement and the New Year.

Yesterday, 17:08

In the last six months, CCTV cameras in Ilford have helped with 818 incidents including 50 violent crimes.

Yesterday, 15:50

A 17-year-old boy died after being chased and repeatedly stabbed in a gang-related attack, a court has heard.

Newsletter Sign Up

Sign up to receive our regular email newsletter

Most read news

Show Job Lists

Competitions

Having a brand new kitchen is something that lots of people want but can only dream of. Sadly keeping up to date and making our living spaces as nice as they can be is a costly and incredibly stressful business. Even a fresh coat of paint makes all the difference but isn’t easy or quick.

Who wouldn’t love the chance to go on a shopping spree. Imagine being able to walk into a shop and choose whatever your heart desires without having to worry about how much it costs.

Digital Edition

cover

Enjoy the
Ilford Recorder
e-edition today

Subscribe

Education and Training

cover

Read the
Education and Training
e-edition today

Read Now