To think we shouldnt be giving millennials 10k?!

[savingin2018welltryingto]

Sorry if there is another thread about this, I couldn't find one.

But seriously, just no?!

Not that weird.... As people turn 25 they get the windfall around the time some of them might have graduated or worked enough to have skills they could start a business with (say). Probably also a bit more likely to be more settled in location for house buying etc which this can help with too -than say an 18 year old.

It's all too easy to say "how stupid" or "what about 26 year olds".... But this has actually data and study behind it. Radical ideas are needed and this is one.

The fact the younger people have been ignored or marginalised for so long is why this is needed. I applaud this idea.

The fact that "the bank of mum and dad" has become such a thing is EXACTLY why we need to help younger people. To use the fact that older people have helped younger people is a bizarre one to beat this idea with.

It won’t happen and nor should it. My parents (in their 70s had it tough and made a lot of sacrifices. No university education unless you were very bright, one one week holiday a year to Bournemouth (and that was posh) no car, made own clothes, mended things themselves if they broke, took packed lunches to work. Eating out a couple times a year. Not moving out til they married. Today 20 somethings at work want their own house ( something nice they own by themselves in nice of town). Multiple foreign holidays/ weekends away/ experiences/ meal deals every lunch, a car on finance, university education which they need to repay loans for, new clothes for every night out. Eating out or takeaways a few times a week. Yet moan they can afford a house. Expectations need to change. The baby boomers- yes they got lucky with house prices but that’s it! They got lucky with one investment, they had many things a lot harder. The millennial need to enjoy what advantages they do have rather than bemoaning the relatively small disadvantages

The problem of an ageing population has been brewing since the early 1960s and no government since then seems to have noticed. Demands by older people on the NHS would be a lot less if there was adequate social care. The whole thing needs reviewing but no government has the guts to do it.

Of course younger people should be helped. But why do this through taxing their parents? A lot of this is a governmental/state issue. But yet again, we have a government that won't pay for those who actually need help.

Parents with young children should pay extra taxes for NHS. They use it more than anyone.

Not true. 40% of the entire nhs budget is spent on the over 65s. Chronic diseases and age related conditions and care are the biggest useage.
No one group should be paying more anyway - although when the nhs is stripped and privatised some groups will.

Can someone please post a link to what this is about please.

I’m a millennial, brilliant that some of you want to give me 10k. I definitely don’t need it; I have a house and have plenty of savings but I’d sure like to spend it on avocado toast and a fancy holiday I could brag about on instagram.

(I also have no idea what this is about but if someone wants to give me money without me actually having to do anything then I’m all in)

No point giving everyone 10k they would have to have a realistic chance of buying a home at 21 I was a single mother in a council flat

Isn't it just targeted quantitative easing? - printing money, but instead of giving it to the banks as we usually do, giving it to a segment of society to spend? It's no stranger than engineering a housing boom that produced annual growth in house values exceeding £10k - every year.

It's a great idea. Beats the hell out of solving the housing crisis by increasing supply to meet demand. Let's give windfalls from the public purse so that first time buyers can keep the market overheated. Well, those that don't blow it on coke or a gap year anyway.

Bearhunter - absolute bollocks that young people don't save as much and that's why they have problems. House prices have shot up way way way above average earnings. Even within the last 20 years or so house prices have gone up about 4 times as much as earnings. So they are simply unaffordable without help. They are not working less hard or anything as stupid as that argument, they simply have less opportunities for house buying than the generations before them.

it will NEVER happen, so just stop moaning about it

It won’t happen, it’s just an idea and not a great one at that.

I do think that it would be more sensible than cutting tuition fees to give a sum of money to everyone on their 25th birthday, as not everyone needs or wants to pursue HE. A lump sum at an age where lots of people settle down is much more equitable.

Mortgages would have to be more easily accessible to have any effect on young peopl being able to enter the housing market (I don’t mean ridiculously high LTV or sub-prime mortgages either, just mortgages for people on regular incomes who are already paying rents higher than a mortgage on a similar property would be.)

User147. Where did I deny that house prices had shot up? I actually said baby boomers had got lucky there. But if millennial waited until marriage didn’t get in debt going to uni, went on camping hols like their parents/grandparents at their age, made do and mended, ate out less etc they would be in a better position to buy a house. If we are saying £10k would make such a difference (which I doubt). Most young professionalpeople could save that up in 2-3 years if they really cut back

It’s not a government policy proposal- it’s from a think tank. The policy is full of holes but it’s got people talking. The bbc has a nice piece about the conditions (housing, education, starting a business or pension) and how you’d best spend it (pension). If I got that from the govenement now I’d put it into pension but I don’t think I’d have done that at 25. I’d have probably put it towards a house deposit assuming I was able to save it for a longer period as I wasn’t earning enough to buy at that age.

BIWI

Of course younger people should be helped. But why do this through taxing their parents? A lot of this is a governmental/state issue. But yet again, we have a government that won't pay for those who actually need help

Why do this through taxing their parents? On average the over 65s have more money / assets than the under 30s. Kind of makes sense to tax the over 65s.

It does until they need to pay care home fees. What happens when there's no money to pay them?

So on the one hand £10k will barely help them....but will take them 2-3 years (apparently) to save up. Presumably because they're having to stay at home due to sky high rents otherwise stopping them saving anything at all. Plus your advice is that going to uni is somehow a terrible decision for them too.

How can anyone feel anything but sorry for young people nowadays?

It's an idea that has its merits, certainly. However, the gap between the richest and poorest is already well established by that age. I think having the money made available specifically for a housing deposit would be a better idea than a blanket approach.

Also, no, uni fees do not need to be lowered. We already have too many people obtaining degrees of little value. But subsidised study for focused areas, such as STEM, where we have an industry drought, would be beneficial.

Bearhunter09 would you mind explaining how a £27k plus debt for going to uni is a relatively small disadvantage? Or, for most millenials, never being able to own a home? It’s not because of meal deals.

Parents with young children should pay extra taxes for NHS. They use it more than anyone.

Other than immunisations, mine never see a GP or attend hospital (fortunately)

"It’ll never happen, anymore than getting baby boomers to pay for their increased use of the NHS. Sadly."

The baby boomers who grew up against the backdrop of "More doctors smoke Camels than any other cigarette"

Those baby boomers!!

They would be better having a government mortgage thing and allowing everyone a 10k voucher type thing which acts as 10k towards a deposit for a mortgage so if you wanted to buy a house you could put some money into the deposit and get one and if you don't want one then you don't have too but then atleast its not leaving anyone out.

Also agree with cheaper housing and