Burnham considers tax breaks to bridge generational wealth gap

• Andy Burnham, the prime minister-in-waiting, is considering a major policy package to address the generational wealth gap and support young people, particularly Gen Z.
• Key proposals include exempting young people from income tax for their first three years of full-time employment to help them save for house deposits, a plan estimated to cost £3.5bn.
• The package also features help with rent-to-buy schemes and the nationwide rollout of Manchester's public transport initiative, offering free or reduced travel for 18-25-year-olds.
• Burnham aims to tackle the 'rental trap' faced by Gen Z, who struggle with homeownership, and has committed to the “biggest council housebuilding programme since the post-war period”.
• Despite these ambitious plans, Burnham faces financial constraints, including a £4.7bn defence spending gap and pledges not to raise VAT, income tax, or national insurance, though he is considering a tax raid on large companies.

IN FULL

Burnham targets Gen Z voters with tax breaks to help them onto property ladder