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27/09/2013
BoE Asked To Review 'Help To Buy' Scheme Earlier
The Bank of England has been asked to undertake a bigger role in Chancellor George Osborne's 'Help to Buy' housing scheme, with their Financial Policy Committee (FPC) committed to carrying out an annual review, beginning next September.
This is a change to an original proposal, which would have seen the FPC assess the scheme after three years.
It is understood that Mr Osborne's aim to avoid the scheme fuelling a property boom after recent improvements in the housing market raised concerns over the impact of the scheme.
An across the board rise in year-on-year house prices has been reported for the first time in six years.
(MH/CD)
This is a change to an original proposal, which would have seen the FPC assess the scheme after three years.
It is understood that Mr Osborne's aim to avoid the scheme fuelling a property boom after recent improvements in the housing market raised concerns over the impact of the scheme.
An across the board rise in year-on-year house prices has been reported for the first time in six years.
(MH/CD)
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Tories Would Freeze Public Wages
A Tory government would freeze public sector pay, the Shadow Chancellor told his party's Manchester conference today. Outlining the Conservatives' spending plans, George Osborne said he would halt pay increases for judges, doctors, teachers and emergencies services staff in 2011.
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