Help to Buy is a “Damp Squib”
Marshall King, chief executive at Decision Insight Information Group, asked the panel if they believed the Help to Buy Scheme would create a boom in the property market.
In response David Smith, economics editor at The Sunday Times, said: “What difference will £130bn make over the next 3 years? That’s just £40bn a year.
“The scheme is more likely to be a damp squib than a boom!”
Campbell Robb, chief executive of Shelter, said the scheme was “misdirected”, “wouldn’t work” and is “not the right use of money”.
However Grenville Turner, chief executive of Countrywide, said the scheme was already starting to have some positive effects.
Turner said: “The equity loan side of the scheme has already caused an immediate impact for builders.” he added “The combined effect is positive.”