Economic Growth is Being Boosted

Chancellor, George Osbourne says that Economic Growth is Being Boosted...

• “We'll get Britain building“: buyers of new homes will be able to borrow up to 95% of their value as part of the government plans The mortgage indemnity scheme, in which the government will underwrite part of the risk to lenders, could help up to 100,000 people in England.
• Rail fare cap: Season tickets and peak travel fares were due to rise 8.2% in the New Year - 3% over the RPI rate of inflation. But George Osborne now announced that this will be restricted to 6.2%, and that the cap will apply to Tube and bus fares in London.
• £1bn scheme targets young jobless: to provide subsidised work and training placements which will "provide hope" to thousands of young people. The three-year youth contract scheme will give employers subsidies worth £2,275 to take on 160,000 18-to 24-year-olds for six months.