IMAGINE turning 25 and seeing that your bank account had been boosted with a birthday present of £10,000. It’s the stuff of dreams, right? Well, if The Resolution Foundation had its way, this wouldn’t just be every young person’s fantasy - it would actually happen for real. The independent think tank says all 25 year-olds, no matter how rich or poor, should receive a lovely little £10k nest egg from the government to help with tuition fees, buying a home or caring costs. Supposedly, this would balance out inter-generational unfairness to help young people, already priced out of the housing market and struggling with insecure jobs, to stand on their own financial feet. But, if this were to happen in reality, would anyone really look after the handout in a sensible way and invest it wisely in their future? Or would they head to the nearest travel agent and splurge it on a one-way trip to Bali? We take a closer look at the bank accounts and spending habits of … [Read more...] about Can you guess who has £10,000 and who has £24? What’s really inside these 25-year-olds’ bank accounts
Insurance 25 years old
ALL 25 year olds should get a £10,000 “inheritance” payment towards a first time house deposit, business start-up, training or their pension, a think tank declares today. The Resolution Foundation said the £7bn freebie would be funded by doubling of the inheritance tax take. A report from the Intergenerational Commission insists urgent help is needed for young people because they don’t have the prospects of previous generations. The Citizen’s Inheritance’ would not be means-tested and would provide up to half of a deposit for a typical property outside London, or vital capital to start a new business. The funding would come from an overhaul of inheritance tax with a new “lifetime receipts tax”, which would double the amount of tax brought in. It would see those inheriting able to keep £125,000 before paying tax with individuals being targeted instead of the estate. Anything above £125,000 would be taxed at 20 per cent up to … [Read more...] about All 25 year olds should get a £10k ‘inheritance’ payment towards first time home deposit, think tank says
WASHINGTON (AP) — The story line sounds familiar: a popular pain drug becomes a new way to get high as prescribing by doctors soars. But the latest drug raising red flags is not part of the opioid family at the center of the nation’s drug epidemic. It’s a 25-year-old generic pill long seen as a low risk way to treat seizures, nerve pain and other ailments. The drug, called gabapentin, is one of the most prescribed medications in the U.S., ranking ninth over the last year, according to prescription tracker GoodRx. Researchers attribute the recent surge to tighter restrictions on opioid painkillers, which have left doctors searching for alternatives for their patients. Those same forces are changing the drugs that Americans abuse, according to experts. “We’re basically squeezing people into other drugs because the prescription opioids are becoming a lot harder to get,” said Dr. Richard Dart, who tracks drug abuse through a national data network owned … [Read more...] about Opioid epidemic ensnares popular 25-year-old pill for nerve pain
PUBLISHED: 09:56 08 May 2018 | UPDATED: 10:20 08 May 2018 The Resolution Foundation Intergenerational Commission has said that pensioners who continue to work should pay national insurance to fund a £2.3 billion windfall for the NHS. Picture: Gareth Fuller/PA Wire Scrapping inheritance tax to give young people £10,000 to get on the property ladder is one policy put forward by an influential commission as it seeks to address fairness between the generations. Pensioners who continue to work should also pay national insurance to fund a £2.3bn windfall for the NHS, a think tank has said, while straining social care services should receive the same amount but funded through a property tax. Inheritance tax should be abolished and replaced with a lifetime limit for recipients of £125,000 before levies kick in and the money raised would fund a £10,000 payment for 25-year-olds to help them get on the property ladder, pay for education, set up a business and invest … [Read more...] about Is it fair to give all 25-year-olds £10,000 to help them on the property ladder?
The Resolution Foundation Intergenerational Commission has said that pensioners who continue to work should pay national insurance to fund a £2.3 billion windfall for the NHS. Picture: Gareth Fuller/PA Wire Proposals to give a £10,000 starter payment to 25-year-olds in the UK have been cautiously welcomed in Norfolk – but caveats over its implementation have been suggested. Your Own Place founder and director Rebecca White with, right, Jarrod Ewles, tenancy and independant living trainer, and Simon George, a former service user. Picture: ANTONY KELLY The Resolution Foundation’s Intergenerational Commission, which has been studying equality between the generations, says the two major tasks to maintain fairness are to fund care for the elderly and support younger generations “facing a harder time building up assets”. One way to address these is to tackle “age-related inequalities in the tax system that favour older workers”, its A New … [Read more...] about Norfolk charities react to proposals for £10,000 payment for 25-year-olds to address generational gap