Chancellor’s “Bold Plan” To Save Home Ownership A Damaging Non-Starter

Labour’s shadow housing minister John Healey has effectively called George Osborne’s “bold plan” to deliver more homes a sham. In his Autumn Statement, the Chancellor declared he was doubling the housing budget and promised “400,000 affordable new homes”, as well as removing restriction on shared ownership. But Labour said these plans are already “unravelling”. Many of these new homes are not actually new, the shadow minister said – with 250,000 of them already previously committed. Nor will the affordable homes be that affordable either. As for the so-called Starter Homes Healey suggested first-time buyers could require incomes of £100,000. And citing research by Shelter, he said that shared ownership properties could be unaffordable to more than half of all landlords across the country. Read more on the Housing Excellence website.