Yet again, Bank of England Governor Mark Carney has warned that Britain’s booming housing market represents the “biggest risk” to economic recovery.
Even Sam Bowman, research director of the Adam Smith Institute, says that the Chancer of the Exchequer’s Help to Buy Scheme is “unwise”.
“Mark Carney’s comments on house prices are timely and accurate: the house price boom in London, the south-east and the East Midlands is fundamentally down to a lack of housing,” said Bowman, adding that Osborne’s vote-winner was “inflating demand without increasing supply”.
Do you know what I’d like to see? A statement from George Osborne credibly explaining why Help to Buy is in Britain’s interests, as opposed to those of the Tory-donating construction industry…and younger voters Nobsore hopes to tempt into voting Conservative.
Is that really too much to ask?