DEVELOPING: Conservatives Unveil £5,000 Tax Rebate for Young Homebuyers in Shock Move

Breaking News: Conservatives Unveil £5,000 Tax Rebate for Young Homebuyers The Conservative Party has announced a shock move to give young homebuyers a £5,000 tax rebate towards their first property. The proposal, set out by Shadow Chancellor Mel Stride at the party's conference in Manchester, would see national insurance payments diverted into a long-term savings account. Key Details: £5,000 tax rebate for young homebuyers Funded by cuts to public spending worth £47 billion over five years Plans include reducing welfare claims and civil service numbers The party's proposals aim to "reward work" and help young people get on the property ladder. The plans are part of a broader effort to reduce public spending, with significant cuts planned in areas such as welfare and foreign aid. Background: This move comes as the Conservative Party seeks to address concerns about affordability for first-time buyers. The party's conference in Manchester marks almost one year since Kemi Badenoch was appointed Business Secretary. Current Status: The proposal is set out by Shadow Chancellor Mel Stride, but it remains unclear how quickly the plans can be implemented if the Conservatives come into power. Further details are expected to emerge as the party's conference continues. Developing Story: This is a developing story and we will bring you further updates as more information becomes available. *This is a developing story. Updates will be provided as more information becomes available. Based on reporting from Bbc.*