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

BREAKING NEWS: Conservatives Unveil £5,000 Tax Rebate for Young Home Buyers The Conservative Party has announced a major policy shift, unveiling plans to provide a £5,000 tax rebate towards young home buyers' first property. According to sources, the proposal would see National Insurance payments diverted into a long-term savings account. This move is expected to have an immediate impact on young people seeking their first full-time job and looking to purchase a home. The plan aims to "reward work" by providing financial support for those entering the workforce. The policy was announced by Shadow Chancellor Mel Stride at the Conservative Party's conference in Manchester, where he also outlined plans to cut public spending by £47 billion over five years. This includes reducing welfare claims for individuals with low-level mental health problems and slashing foreign aid spending by £7 billion. Background context suggests that this move is part of a broader effort to address the UK's housing market crisis and support young people in achieving homeownership. However, details on how the policy will be implemented and funded are still emerging. This is a developing story, with further information expected to be revealed as the day unfolds. We will provide updates as more news becomes available. *This is a developing story. Updates will be provided as more information becomes available. Based on reporting from Bbc.*