Tories pledge help for first time buyers

The Conservatives have announced plans for a new “first-job bonus” aimed at helping young people buy their first home. Under the proposal, young workers would receive a £5,000 National Insurance rebate (£10,000 for couples), which would be diverted into a special savings account instead of going directly to the Treasury. The money built up in this account would be able to be drawn down after five years, with no restriction on how the money can be spent.

Shadow Chancellor Sir Mel Stride described the plan as a way to “reward work” and make home ownership more achievable for younger generations. The scheme is designed to give those entering the workforce a real return on their contributions while addressing growing concerns about affordability and access to the housing market.

Ben Furnell, managing director, of Furnell Residential said; " Anything which helps young people to get on the hiousing ladder and put down roots for the future gets my vote."

The announcement forms part of a wider Conservative effort to appeal to younger voters, a group that has increasingly turned away from the party in recent years.