Lib Dems: First time buyer scheme is just "tokenism"
The introduction of small grants for first time buyers has been dubbed tokenistic by the Liberal Democrats. Housing minister Caroline Flint and Gordon Brown announced this week that £3 million of public money will be made available to first time buyers equating a grant of £1,500 for 2,000 people. The money is intended to help them to afford to furnish their homes and to meet solicitor's fees. Responding to the announcement Julia Goldsworthy, shadow communities and local government secretary, said that the scheme was "tokenism of the worst kind" and said that it failed to address the actual problems facing first time buyers. She commented: "The credit crunch is preventing many people from getting a mortgage they can afford, not the worry about solicitors' fees."The government has already spent £350 million on a scheme that has helped just 700 families and now Gordon Brown is proposing these new grants will be enough to help families into new homes."
Share this..
Related stories
British Airways announces £50 million quarterly loss
In the three months to December 2009 British Airways lost £50 million which is very much less than many analysts had been expecting. The £50 million loss compares to a £122 million loss in the same period for 2008 although the pre-tax loss for the nine months ended December 2009 rose from £70 million in the corresponding period to £342 million. As we have mentioned on numerous occasions, B...
Read MoreCar Parking Appeal Wins Hit 94%
At this moment in time it seems as though the cost of running a car in the UK is going higher and higher with little likelihood of a reduction in costs in the short term. However, there is a little bit of good news with confirmation that overall, councils across the UK are losing 94% of car park fine appeals. This has seen thousands of drivers winning the fight to over turn unfair car parking ti...
Read MoreFSA Calls Off HBOS Short Selling Investigation
While the Financial Services Authority (FSA) launched an investigation into short selling and false rumours about HBOS in a blaze of glory, it has had to call a halt to the issue 5 months later. Even though the authorities are sure that false rumours were swirling around the market prior to the substantial fall in the share price in mid March, they have been unable to pinpoint the origin of the s...
Read MoreAbbey: Give up smoking for a financial boost
Regular smokers spend around £170 on the habit each month, new analysis from Abbey has shown.According to the firm, giving up cigarettes can therefore be of significant benefit to personal finances - as well as to health.By quitting, around £2,000 can be generated in a top-rated savings account after just 12 months, Abbey claimed.The research found that a 20-per day smoker can also derive benefi...
Read MoreWhere there is muck there is brass!
Serial entrepreneurs Paul Wright and Valerie Kaye are on the verge of completing a deal which will see their plant and garden equipment company sold to their former offshoot Ideal Shopping Direct in a deal worth around £5 million. After initially setting up the Ideal Shopping Direct company sometime ago the couple left in 2007 with £9.9 million in their bank accounts and a stake of 29% in the bu...
Read More