What we want to do: 
We want young families and first home buyers to be able to capitalise their annual Working For Families entitlements to assist with the purchase of their home.

Why do we want to do it?
Working For Families Tax Credits operate as a weekly payment for families of dependent children with the rate of payment is determined by the age of children, the number of children and income earned by the parents or guardians of the children.

The purpose of the scheme is to alleviate the pressures young, working families face balancing their family and workplace responsibilities.  We believe that contemporary housing pressures should also be reflected in this purpose and that is where our policy becomes critical.

How does it work?

The policy is simple, families with young children are entitled to a level of support via the Working for Families programme, we want the initiative to properly achieve its goal of supporting  young families by responding to present day realities.

That means the programme must reflect the fact that a major issue for couples with children today is housing security.

Our plan will enable many families to access a helping hand to secure a family home.

The Working for Families scheme ensures that those families who are under the most financial pressure receive the largest support.

Importantly, the policy only applies to money that families are already entitled to and would receive already, it simply allows them to advance when they receive that entitlement, so there is no additional cost to the Government.

This does not eliminate the need for young, working families to save and plan for buying a house but it does reflect the way our society looks today and provide relief for those trying to gain a foothold on the property ladder.

By allowing these families to withdraw their entitlements as a lump sum, rather than as a weekly instalment, for the purpose of securing a home deposit, we would allow the system to better reflect the pressures facing those in need.