Labour slams Help to Buy scheme

Sam Cordon

July 23, 2013

Labour’s shadow housing minister Jack Dromey said that the government’s flagship housing scheme was welcomed but warned that unless more was done to stimulate house building ownership would remain out of reach for many.

He said: “Any help for first time buyers struggling to get on the property ladder is to be welcomed.

“But there is now widespread criticism that this scheme will do little to bring the cost of housing within the reach of low and middle income earners.

“Unless the Government finally acts to build more affordable homes, then home ownership for millions of first time buyers will remain but a dream.”

In May the International Monetary Fund advised Chancellor George Osborne that he should increase infrastructure spending and Dromey has said this may be the solution to the predicament facing the housing market.

He said: “If the £10bn infrastructure boost recommended by the IMF was spent on housing, we could build 400,000 affordable homes and support 600,000 jobs.

“That’s the way to get people back to work, sort out the housing crisis and strengthen our economy for the long term.”

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