Young People Have Just Been Properly Screwed Over By The 2015 Budget – Here’s What You Need To Know
Today (July 8), George Osborne will present his first all-Conservative Budget since 1996.
But ahead of his speech, the national media has been briefed on the major points and cuts the Chancellor will be announcing – and it’s pretty effing bad news for young people.
Described by a Tory minister as ‘the boldest Budget in more than a decade’, the 5-year-plan will cause young people to seriously reconsider their futures. Here’s what you need to know…
1. University maintenance grants for low-income students will be scrapped
The grants (which currently stand at £3,387 a year for families with an annual household income of £25,000 or less), are to be converted into loans, which of course means piling on to the epic student fees that already need to be paid back.
You know, those student fees that were allowed to rise to a maximum of £9,000 a year in 2012.
This grant cut will be a massive blow to low-income students who are probably already on the fence about whether they could afford three years at university.
Of course, there are lucky students out there who will be able to get by paying for accommodation, food, bills and the rest with the help of their parents, but surely that’s just going to form a bigger class divide across England and Wales – something which is already a very serious problem.
2. Tax credit wage subsidies will be cut completely for under-25s
While these were basically making sure you were living at an acceptable standard, even if you were making a low wage, these are to be scrapped.
This makes a bit of sense, as it’s being said the Chancellor wants bosses to increase wages for employees (with one way being cutting National Insurance contributions they have to pay), but without a proper raise in Living Wage, we’re not sure how that will be implemented.
3. Housing and Jobseekers benefits for young people are over
The Conservatives already vowed to scrap the allowance for 18 to 21-year olds, but now Jobseekers allowance is also set to be phased out for the same age group.
According to the BBC, it’s being replaced with ‘youth allowance’, which will require young people to do community work if they’re out of a job for longer than six months.
While the working allowance feels fair, removing housing benefits really means a ton of young people having to stay living with their parent(s) for longer than either party would probably want to – which doesn’t seem right to us.
4. It’s not all bad though – they *are* creating a 'million' more apprenticeships
Which is kind of the least they could do if they’re pricing vulnerable young people out of a chance of going to university.
The Chancellor will apparently be pouring ‘millions’ of the money saved into new apprenticeships to help young people get into full time work. OH HOW YOU SPOIL US, GOVERNMENT.