The cross-party Commons Treasury Committee said that
jobs, output and productivity could all suffer if a fall in the supply of
privately rented homes led to a reduction in labour market mobility. The
warning follows the Chancellor's announcement in last year's Autumn Statement
that he was imposing a new stamp duty "surcharge" on buy-to-let
properties from April as the Government sought to drive up home ownership. It
came after Mr Osborne set out plans to restrict mortgage interest rate relief
for landlords from 2017 in his Summer Budget following last year's general
election. "Were the measures taken to curb buy-to-let to have a
substantial effect, they would come at a cost to the wider economy," the
committee said. Read more on the Express & Star website.
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