May’s £11bn homes bribe

Theresa May will spend £11billion of taxpayer money wooing young Jeremy Corbyn supporters.

The PM is set to bribe them with £10 billion to extend the help-to-buy scheme – giving a leg-up to an extra 135,000 first time buyers.

And £1billion will be used to freeze university tuition fees at the present £9,250, saving students £250 a year. And the amount graduates earn before they must start repaying student loans will be raised from £21,000 to £25,000 saving £360 a year.

Mrs May said: “Taken together, these are key parts of my plan to spread opportunity and build a better future for our country.”

The PM has been stung by young people deserting the Tories for the Labour leader. And she realises the cost of education was a big reason for losing her majority at the Election.

She will also pledge to reopen the whole issue of student finance at this week’s Tory conference in Manchester, where a ring of steel was thrown around the main hall yesterday – as snipers scoped out the area for potential threats.

To help more young people get on the housing ladder Chancellor Philip Hammond will pledge to expand the Government’s equity loan scheme.

This offers buyers 20% government loans towards the purchase price meaning they only have to put down five per cent cash deposits and fund the rest with 75% mortgages.

Mr Hammond said: “Young people fear life will be harder for than it was for their parents. Making progress as a nation means supporting young people to achieve dreams of home ownership.”