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irrationalactor

Scottish Labour Election Bribe - Htb Isa On Steroids

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http://www.dailyrecord.co.uk/news/kezia-dugdale-6k-home-help-7118731

Apparently if Labour win in Scotland they'll help people to bid up prices further by giving people with 3k in their HTB ISA an extra 3k on top.

Have politicians just forgotten what a functioning housing market looks like? When did it become politically acceptable to buy votes by promising to just hand voters thousands of pounds of taxpayer's money? Aren't our leaders supposed to be careful stewards of the economy?

Why should some couples get a free 6k to allow them to irresponsibly borrow too much on a mortgage they couldn't otherwise afford and outbid me?

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They tried that in Aus. Great for the sellers, of course - prices just got bid up by 4 x the handout. A significantly worse outcome for the buyer than if they had done nothing at all.

This is something a lot of people don't realise about HTB although MMR helps to reign those effects ,the multiplier effect is still at work just to a lesser extent

Edited by long time lurking

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Should be cheap to implement....I can't imagine there would be *any* Labour voters in Scotland with 3k in an ISA... Labour are increasingly an irrelevance...

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Won't happen as they won't win - but it's always possible the SNP could adopt it.

Very odd policy - as they are funding the £120m cost by reversing the SNPs air passenger duty cuts. Why help the wider economy when you can focus resources on a few FTBs.

And will priced out English people buying their first home in Scotland be eligible - or will it just be Scots and other EU citizens as with free tuition fees.

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Have politicians just forgotten what a functioning housing market looks like? When did it become politically acceptable to buy votes

That one at least is a tradition that's older than any of us. Or than giving the vote to non-homeowners in the first place. I would imagine that bribes to help you buy a house (or at least purporting to do that) must date back to when they extended the franchise, if not earlier.

Edited by porca misèria

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Short-termism at its best..

How can this country go forward when all that all main parties do is to push more hot air in the housing ponzi scheme..

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Politicians trying to buy votes shock......surely it would be cheaper just to hand out brown envelopes to their target voters.

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