This week in the news, I recall watching a television programme about the shortage of new housing in London and how the government felt houses needed to be built on green-belt land. Last year I used to work in a rural part of Scotland called Dumfries and Galloway. The county has historically offered very cheap housing, but that’s quickly changing due to the number of golden oldie couples choosing to spend their retirement years in this part of Scotland. Many of these golden oldie couples have bought large houses, part of which they then use as holiday accommodation – seeing this as “pocket money”.

In principle I have nothing against people doing this, but the fact that Dumfries & Galloway is becoming a retirement ground is driving house prices up and driving the young people out. This county actually has the space for new houses and if only it had better transport links to Glasgow and Edinburgh, it could be a really prosperous area. However, given that the politicians are incapable of free thought outside London or Edinburgh, it remains unrealistic for most working age people to live in rural locations, which is so frustrating when you look at the dismal grey splurge emerging out of some of the UK’s largest cities.

These mature property buyers, after driving out the working age population, will find insufficient numbers of carers in look after them in their old age and when they finally die, they will leave their property in ghost towns. Perhaps yuppie couples will take over, but they’re likely to do considerable commuting, still adding very little to the local area.

I don’t think there is a shortage of housing in the UK, just an extremely inefficient use of space. It’s easy to come up with new projects, it’s less easy to do something positive and creative with existing ones.

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3. Rent-boys and rent-girls

“Child Trust Funds are long-term tax-free savings and investment accounts into which the Government will pay ‘endowments’ when a child is born. A further payment of an undisclosed amount will also be paid at the age of seven. This means that each child born on or after 1st September 2002 will receive an initial lump sum payment of (currently £250 or £500 for poorer families) from the government. This will be sent in the form of a voucher which can then be used to open a CTF account with the investment provider of the child’s guardian’s choice. Parents will be able to pay up to £1,200 a year into the fund, until the child reaches 18 when the account will cease to be a Child Trust Fund account, and will usually be transferred into an easy access account. Preferential tax treatment will then cease, and any further growth in the fund after this time will be subject to normal tax legislation. Savings in a Child Trust Fund account will develop into an asset which can then be used by the child, and no-one else, when they reach the age of age of 18 (not before) to help cover some of the large expenses encountered at this time of a person’s life, and is intended to contribute towards university fees, first mortgage, etc.”

Yep rewind, “Savings in a Child Trust Fund account will develop into an asset which can then be used by the child, and no-one else, when they reach the age of age of 18″

I’m not sure that’s such a good idea – has anyone seen 18 year olds recently?

Especially the ones that go to university! A large percentage of them manage to blow the first instalment of a student loan within the first month of university and quite a few of them run up additional debts through overdrafts and credit cards.

Hmmmm no … I sense that as most 18 year olds discover copious amounts of sex and alcohol at university, financial responsibily won’t be up there in the top ten of things to do and be. If they keep on top of their dishes and laundry, it’s one giant leap in terms of student civilisation.

AND

rargh rargh rargh…

…it’s our money…

… and it’ll go straight to the Students’ Union bar….

I’m not the only one miffed by this scheme either….

Manchester Online

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