‘The more you earn, the less you keep’: readers react to the budget
Source: The Guardian ·
From a young chef and a single father to business owners and a pensioner, Guardian readers reveal how John Healey’s measures will affect themWhat the budget means for youLouie, 24, a chef living in London, says a lot of people have “written off the idea of even considering getting a property” in their 20s. Continue reading...
From the source
Louie, 24, a chef living in London, says a lot of people have “written off the idea of even considering getting a property” in their 20s. He is optimistic about the government’s new Your First Home scheme, which will enable people to buy a new-build property with a deposit of just 2.5%, supported by an interest-free equity loan. But he says a smaller deposit alone will not be enough for him. “I’ve found hospitality wages to be far too volatile to even consider saving for a property,” he says. As a result, he is studying an access course with plans to start a physiotherapy degree next year. He hopes that by the time he graduates and gains some experience, he will have a stable enough income and sufficient savings to put down a deposit. He says the new scheme “should encourage a lot of young people to buy earlier” and adds: “We are moving in a good direction, but I’ll still save and wait until around late 20s to early 30s to start [thinking about buying], just due to how much it may…
BestAIBroker analysis
- Finance-aware sentiment: neutral (+0.00 on a -1 to +1 scale).
- Event classification: OTHER.
- Market importance score: 29/100, weighting entity relevance, source credibility, multi-outlet coverage and recency.
- Symbols referenced: D.