The budget review is going to hit everyone pretty hard but it seems that there is one group being hit hardest, the young!
So far we have had confirmed that child benefit will be withdrawn from top earners, this is no bad thing in the sense that is moves towards a progressive tax/benefit system but it is just the first line of the policy targeting the young.
Secondly we have reforms EMA that could see many students loosing out. What ever your thoughts on EMA its not likely to go down well with those students loosing it.
Education slashes loom, if not in this review but in the near future. Again the true losers in this are the students, the NUT predicts the loss of specialist staff first, those that deal with behavioral and special needs.
The tally of cuts won't just affect those in education what about those just left education, those trying to buy their first house. Th Government reforms to the housing budget are going to make it, you guessed it, harder than before. 30,000 new 'affordable' homes were build in the south east and London last year and the latest prediction shows that in the next 5 years the government is unlikely to fund more than 250 new homes. The only hope is that the housing market will come down. While prediction are pointing the market that way the draw back is it normally a signal of a looming recession.
"The total number of 18 to 24-year-olds out of work for two years or more rose to 72,000 in the three months to June, up 11pc on the previous quarter, according to the Office for National Statistics (ONS)." -Telegraph
Youth unemployment as a result of the recession is clear to see and t it will only get worse if we going into a double-dip recession. I know that many of my peers find it hard to get work, I've found my self struggling to get work as a direct result of budget cuts to the police.
Majourty of students expenditor is on a small luxary items (video games) or cloths and a lot on books as well. The VAT increase will proportionally hit the young harder, especially with talk of it being applied to books and clothes now.
Then there is the big one, the hit that will take money directly out of the pockets of students and laden them with debt, Tuition fees. It’s looking like tuitions fees will be raised from £3,225 to £7000, over doubling! This means over double the debt, it seems the deficit is being shifted from the government balance to the accounts of students.
Its those that did not cause the credit crunch or rack up the debt that are now having to pay for it and the Conservative party will have to be careful, the young are the voters of the future, something Labour are exploiting given the circumstances stated above. Perhaps also Mr. Cameron should also be wary of students, student unions can be quite militant and in France we've seen their student unions joining mass strikes, the often fiery youth could come back to give the Prime Minister a nasty burn.