The UK government’s announcement earlier today that they will bring forward their ‘help to buy’ scheme has prompted a new wave of criticism from the commentariat on both sides of the political fence. My view is that such inflation of the property market by taxpayer funded government guarantees is just designed to really help politicians, bankers, house builders and estate agents (in that order) while the rest of the population suffers from even more unaffordable property, sucking the life out of the real economy as people get further enslaved by debt.
Here are a selection of some of the tweets today that caught my attention:
— Save Our Savers (@SaveOurSavers) September 29, 2013
Cameron “I am impatient to help young people get on housing ladder' so how does raising prices help young unemployed? http://t.co/Ghz9wTfRnI
— Danny Blanchflower (@D_Blanchflower) September 29, 2013
— Robert Gibson (@robertgibsonmj2) September 30, 2013
— WilkieMay&Tuckwood (@WMTMinehead) September 30, 2013