Will it be a budget for Millenials?
What's Coming in the Budget?
After years of give ‘aways’ to the older generation the signs are that this week’s budget may be one for the younger generation.
The FT claims that Chancellor Philip Hammond will fix the “broken housing market”, with a target to build some 300,000 new homes per year plus a package of incentives to help buyers on the ladder:
House price growth might have slowed in recent months, but homes are still unaffordable for many first-time buyers. Hammond is expected to scrap stamp duty, which adds between two per cent and 10 per cent to the price of a home, altogether for first-time buyers, making it easier to climb the first rung on the housing ladder.
Help to Buy
The scheme, which provides either cash or an equity loan for first-time buyers, was extended by £10bn earlier this year. Hammond will reveal exactly what that means tomorrow.
We will have a full budget update here at the end of the week.