The Chancellor’s economic justification for his Help to
Buy programme was contradicted by the Treasury’s own internal analysis. George Osborne has repeatedly defended the
housing finance-support scheme by arguing it will stimulate more housing
construction. Last September, the Chancellor claimed Help to Buy “is driving a
big increase in house building, boosting the construction industry and
increasing housing supply”. But Treasury advice from two years ago, when the
policy was being formulated, predicted that such equity loans “will have a
limited impact on housing supply since most of the sales are likely to be for
homes which would have been built anyway”. Read more on the Independent
website.
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