Monday January 11th 2016
The Scottish Labour candidate for Midlothian North and Musselburgh has backed the party’s first manifesto pledge ahead of May’s vote, to effectively double the help first time buyers currently receive towards saving for a deposit.
Under Scottish labour’s plan a person who currently saves through a first-time buyer ISA with a government top up to the value of £3,000 would be entitled to an additional £3,000 from a Scottish Labour Government to help toward the cost of a deposit to buy a property.
This means that the average couple in Midlothian North and Musselburgh each saving £100 a month would be able to save for a £15,000 deposit within three years.
Scottish Labour candidate Bernard Harkins said:
“Everyone deserves a home and a chance, but too many young people in Midlothian North and Musselburgh are either living at home with their parents or stuck in expensive rents unable to get that first foot on the housing ladder.
“Home ownership is a big ambition for hundreds of thousands of young people in Midlothian North and Musselburgh but for too many it remains an ambition rather than a reality.
“The expectation of home ownership, seen as almost a right for previous generations are out of reach for too many people. That has to change.
“Under Scottish Labour’s plan we will effectively double the help towards saving a deposit for first time buyers, investing an additional £3,000 for first time buyers saving as part of our plan.
“We’ll fund our promise by reversing the SNP’s plans to cut air passenger duty. A tax cut costs money, and we think that money would be better spent helping make the aspirations of young people in Midlothian North and Musselburgh a reality rather than making a plane ticket cheaper.
“Our plan will give young people a leg up onto the housing ladder but also encourages them to save over three years. Scottish Labour will use the new powers coming to Scotland to reject austerity and give young people in Midlothian North and Musselburgh the chance to turn aspirations of home ownership into reality.”
