Submitted on Friday 28th September 2018
Rejected on Thursday 25th October 2018
Current status: Rejected
Rejection code: no-action (see below for details)
Grant first time home buyers a tax opt out to allow them to save a deposit
Rising rents, transport costs, costs of living and rising house prices are leading to a generation of renters for whom owning their own home is a pipe dream due to the difficulty of saving up a deposit, even at 5%. A responsible tax opt-out scheme would alleviate this.
On a £24k PA salary, monthly tax and NI contributions amount to around £350. In less than 2.5 years this is £10K or a 5% deposit on a £200k home. This could be covered by the estimated £8bn EU net contribution saved by Brexit (320,000 people saving £25K PA)
To ensure the money goes towards home ownership, the tax saving could go into government ISAs which can only be used for home buying, capped at £30k, means tested, and a ban on using for buy to let, house flipping for profit etc.
You can't sign this petition because it was rejected. But you can still comment on it here at Repetition.me!
The Government e-Petitions Team gave the following reason:
Petitions need to call on the UK Government or Parliament to take a specific action.
We aren't sure what you mean by a "responsible tax opt-out". We aren't sure whether you mean that people would not have to pay tax and national insurance and, if so, who would not have to pay.
You could start a new petition setting out clearly what you would like the UK Government or Parliament to do.
18.223.238.38 Wed, 29 Jan 2025 00:27:55 +0000
