Tory Housing Policy: Build Zilch, Hike Prices
The Socialist|Issue 973, 30 November - 6 December 2017

Tory Housing Policy: Build Zilch, Hike Prices

Dave Carr
Tory Housing Policy: Build Zilch, Hike Prices

In his recent Budget speech, Chancellor Philip Hammond - to the delight of bleating Tory MPs - announced a cut in stamp duty on house sales, and measures to build 300,000 new homes a year.

As is always the case with Tory headline claims, the devil is in the detail. Closer inspection shows Hammond’s housing initiatives don’t amount to a hill of beans.

They plan to abolish stamp duty for first-time buyers on properties costing up to £300,000. And there will be 0% tax on the first £300,000 on properties costing up to £500,000.

But this will not reverse the trend in rising housing costs and declining homeownership.

This story is from the Issue 973, 30 November - 6 December 2017 edition of The Socialist.

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This story is from the Issue 973, 30 November - 6 December 2017 edition of The Socialist.

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