Subject Predicate Object
0J5EOmVe
a
Resource
External thing
UK Government and Parliament thing
E-petition
Rejected e-petition
UK Government and Parliament e-petition
e-petition has threshold attainment
WhkPegJ3
e-petition has moderation
9HCdn4R7
TCSLB86i
rejected e-petition has rejection
9HCdn4R7
TCSLB86i
external identifier
229371
UK Government and Parliament Id
229371
e-petition UK Government and Parliament Id
229371
action
Grant first time home buyers a tax opt out to allow them to save a deposit
background
Rising rents, transport costs, costs of living and rising house prices are leading to a generation of renters for whom owning their own home is a pipe dream due to the difficulty of saving up a deposit, even at 5%. A responsible tax opt-out scheme would alleviate this.
additional details
On a £24k PA salary, monthly tax and NI contributions amount to around £350. In less than 2.5 years this is £10K or a 5% deposit on a £200k home. This could be covered by the estimated £8bn EU net contribution saved by Brexit (320,000 people saving £25K PA) To ensure the money goes towards home ownership, the tax saving could go into government ISAs which can only be used for home buying, capped at £30k, means tested, and a ban on using for buy to let, house flipping for profit etc.
created at
2018-09-28T08:37:33.878000+00:00
updated at
2018-11-02T13:41:27.202000+00:00
9HCdn4R7
rejection has rejected e-petition
0J5EOmVe
moderation has e-petition
0J5EOmVe
TCSLB86i
rejection has rejected e-petition
0J5EOmVe
moderation has e-petition
0J5EOmVe
WhkPegJ3
threshold attainment has e-petition
0J5EOmVe