Everyone agreed it pushed prices up and was just a state subsidy to large housebuilder profits, on a day of dumb housing policies could it get any more dumb
Keir Starmer will vow to get 1.5million more people on the housing ladder as he proclaims Labour as the party of home ownership.
He will say: “If we want fair growth everywhere, communities need a stake. And they need good affordable housing for working people to own.
“Under the Tories, the dream of owning your own home is slipping away for too many. And that’s a political choice.
“So we will set a new target – 70% home ownership.” [too high as it makes to many low income people vulnerable to a balence sheet recession – which Kwatng as triggered now as the credit impulse collapses – and lose everything]
Labour will help first-time buyers onto the property ladder by introducing a new mortgage guarantee scheme so people do not have to save up for large deposits. [Like Help to Buy – the daftest housing policy ever]
The government’s own analysis shows saving for a deposit is “the largest hurdle for most prospective home buyers”.
Mr Starmer is concerned that house prices are rising at a particularly fast pace in some big cities such as London and Manchester because foreign investors are buying vast numbers of homes, only to leave them empty. (a year late on this Sunaks changes led to a collpse in invetment market)
To tackle this, Labour would raise stamp duty paid by foreign individuals, trusts and companies when they buy UK residential property. This should help reduce speculative pressures in the most lucrative markets.
BTW 1.5 million is just 300,000 x 5.
So basically Starmer will say he will repeat the two housing policies in the last 2019 Conservative Manifesto – what party is he leading?