Lib Dem Budget Looks to Young people and First time Buyers as Norfolk's Way out of The Recession (Norfolk County Council Liberal Democrats)

Norfolk County Council Liberal Democrats <info@norfolkcclibdems.org.uk>

Lib Dem Budget Looks to Young people and First time Buyers as Norfolk's Way out of The Recession

February 15, 2010 12:00 AM

A tuition scholarship and an interest free loan for a first home deposit for Norfolk residents were the highlights of the Liberal Democrat County Council Budget. The budget put forth proposals that would see Norfolk residents able to access an interest free loan of up to £7,500 from the County Council to put towards a deposit on a first home. Lib Dem Leader, Paul Morse, said the proposal was innovative step to help Norfolk residents, "First time homes are the lifeblood of the local economy, if we can get this market moving again, we can speed up Norfolk's exit from the recession. It also gives young people and families a chance to get out of the rental trap many are in. The deposit needed to secure a mortgage at present is proving to be a major barrier for many families in getting on the property ladder. Our scheme would see the council use money that is sitting in banks collecting minimal interest be put to much better use as investment in Norfolk residents and the local housing market."

The budget also saw the Liberal Democrats pay the three year tuition fees of 50 young people from lower income families to attend Higher Education. Norfolk is currently 15% below the national average when it comes to higher education participation. Liberal Democrat Children's Services spokesperson, Mervyn Scutter said the policy would inspire Norfolk's youth: "It's about narrowing the gap between aspiration and achievement in Norfolk. For many young people in Norfolk the cost of attending university prevents them from even thinking about going, we are trying to make sure this is not the case. Our scholarship scheme would pay the tuition costs for a three year degree for 50 young people and we would continue to repeat this each year. Norfolk has many young people who aspire and are motivated to attend Higher Education, we want the Council to play a role in making sure they can achieve their potential."

The full Lib Dem spending plans saw the Council Tax increase set at 1.86%, which is 0.04% lower than that set by the Conservative administration. Other highlights saw the purchase of a brand new multifunctional flood siren system, a £600K investment in county farms, a £500K investment in projects for vulnerable people, a travelcard offering half price travel for those aged 5-18, the preservation of a £250k subsidy for the Holt and Wells Field Study Centres and a further investment of £100k in the Holt Field Study Centre to make it suitable to accommodate Looked After Children.