Housebuilder Redrow says it’s looking forward to working
with government to consider the future of the help-to-buy subsidy scheme beyond
2021. You bet it is. Since former chancellor George Osborne in 2013 committed
to helping homebuyers purchase new properties with a deposit of only 5%, Redrow
has reported record profits every year. The latest annual numbers – and a share
price that has improved threefold since 2013 – shows how wonderful life has
become for big housebuilders. Operating margins are running at 19% and return on
capital employed has hit 26%. About 40% of its private sales are to help-to-buy
purchases, which is typical for the sector. Read more on the Guardian website.
The Observer view on Dan Poulter and the failing Conservative government |
Observer Editorial
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The former Tory health minister has defected to Labour over the crisis in
the NHS and has rightly called for an early election
This week, voters across E...
12 hours ago
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