Give all Millenials £10,000......

[peteblue]

I see a panel chaired by David (two brains) Willetts has suggested that all Millenials should be given £10,000 on their 25th Brithday for house deposit, education, start a business or whatever........

I actually think this is a great idea in theory, but alas I think it may just flounder in practice ......

 

[Prevenger17]

I see a panel chaired by David (two brains) Willetts has suggested that all Millenials should be given £10,000 on their 25th Brithday for house deposit, education, start a business or whatever........

I actually think this is a great idea in theory, but alas I think it may just flounder in practice ......

I would be very careful about who I'd give 10,000 blips to. The 25 year old me would have pissed that down the drain

 

[Alanbileysfeathercut]

£25000 when I was 25
The ladies of upper parliament street would've loved that

 

[Simon Buttle]

I would be very careful about who I'd give 10,000 blips to. The 25 year old me would have pissed that down the drain

Me too, the 25 year old me had some serious drug and alcohol issues at the time so i know what i would have probably done with it.

 

[NEWSWEETTOFFEE]

Man, that is average income for two years in Bosnia.

 

[GrandOldTeam]

Good idea, though should only to be used as/towards a mortgage deposit.

It's too difficult for young'uns to get on the housing ladder.

 

[Deleted member 28206]

Good idea, though should only to be used as/towards a mortgage deposit.

It's too difficult for young'uns to get on the housing ladder.

WHAT ABOUT ME

 

[Tubey]

Good idea, though should only to be used as/towards a mortgage deposit.

It's too difficult for young'uns to get on the housing ladder.

Or setting up a business.

 

[Daveysgingerlovechild]

Even the ones who have a trust fund / massive inherited wealth / are already successful entrepreneurs and wealthy?

Sounds a bit apple pie to me. It'll just spark jealousy and resentment about 'deserving cases', especially if it ends up means tested. Doesn't sound too well thought through...

 

[Tubey]

To add, quite literally vet it so the money is released only towards a mortgage or reclaimed towards business costs.

Sure, people will find ways around the latter but still worth trying to make sure it's used right.

Won't happen anyway - country won't have a pot to urinate in within the next 10-15 years, nevermind for initiatives like this.

 

[GrandOldTeam]

Or setting up a business.

Think that would be too vague mate, too many would be doomed to failure and it would be pissed away - there's tons of grants/loans out there for new businesses.

 

[Deleted member 28206]

£25000 when I was 25
The ladies of upper parliament street would've loved that

“ investment”

 

[Tubey]

Think that would be too vague mate, too many would be doomed to failure and it would be pissed away - there's tons of grants/loans out there for new businesses.

Not if it were set aside and reclaimed against VAT/Corp Tax receipts - so it would in essence become £10k tax free for business and business only.

You are right in saying people would find workarounds like.

 

[Daveysgingerlovechild]

To add, quite literally vet it so the money is released only towards a mortgage or reclaimed towards business costs.

Sure, people will find ways around the latter but still worth trying to make sure it's used right.

Won't happen anyway - country won't have a pot to urinate in within the next 10-15 years, nevermind for initiatives like this.

Plus, its proposed funding source is from the older members of the population. Tax rises are never popular.

 

[barneygumble]

Oh great so us 26-year olds continue to struggle, yet some wannabe Tom Davies student gets £10k and ahead of me?

Seems fair that.