Tuesday, October 3, 2006

Government invests £230m to help just 20,000 home-buyers

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The Government is spending £230 million on a project that will help just 20,000 people on to the property ladder, and they think that the scheme could even make the problem of housing affordability worse, by stimulating the lower end of the market.

Posted by p. o. o. r @ 03:56 PM (478 views)
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8 thoughts on “Government invests £230m to help just 20,000 home-buyers

  • What utter nonsense – if the government had the guts to properly regulate the financial industry, there would be no need for tax-payers money to be wasted in this way for the benefit of the few. If lending multiples had been constrained to 3x income, which had been the accepted practice for decades, then non of this would be necessary and the nation could be living a reasonably comfortable existence without the spectre of record debts hanging over the heads.

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  • so lets see now, the country is theoretically bankrupt through a public sector pension deficit and for good measure we’ll just though in another £230 million (albeit a comparitively small amount) just to make matters worse. The other 80% of the workforce will just have to pay for it because that’s what nanny wants and ‘ 80% of the workforce ‘ will just have to do as they are told.

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  • This is an obscene theft of tax payers’ money for party political purposes. There is no significant moral difference between this and the Dame Shirley Porter gerrymandering. I’m absolutely disgusted and those involved should have to make good on any loss to the exchequer. Of course this will do nothing but raise prices at the lower end of the market – robbing from the poor to pay the rich. Are the people behind this stupid or malevolent? Do they think that the idiocy/cynicism of this scheme is not transparent to anyone with anything between their ears? D’you think they were reading the graph upside down when they were planning redistributive taxation policy? Do you think any of them attended any of their PPE lectures when they were at Oxford, or were they too busy hacking in the Student Union.

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  • So they give 11.5K each towards the purchase price of 20,000 homes, prices increase by another 10 – 15 percent – What benefit is there, and who wins? 20,000 homes is not very many, given that the estate I used to live on which was built in the late 90’s had about 1000 houses.

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  • bidin'matime says:

    That’s Labour for you – no idea when it comes to economics and eager to throw tax-payer’s cash at loony schemes.

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  • If these scheme takes off – it will be the biggest black hole for tax-payers money ever!

    Much better to just whack up the interest rates and get the HPC going – as the longer this is put off the more painful it will be.

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  • should we get together, get some experts involved and make public appearance to stop that money-for-political-power and ridiculous egoistic apetite growing in our country. We need to do something, otherwise the country will burst with all bubles.. It is getting unsusainable..

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  • Agreed zozozo.

    Webmaster – you should claim to be an expert – your probably more qualified than most VIs who claim to be so.

    Get some publicity for this site and put a stop to the madness!

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