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BUDGET IS A MIXED BAG FOR HOUSING CRISIS
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The former head of the civil service, Lord Kerslake, has described the measures in the budget as a “mixed bag” which would struggle to deliver the government’s ambition on new housing.
“I welcome the chancellor’s announcement of £15bn of new support for housing but it doesn’t reflect the government’s ambition to solve the housing crisis and, crucially, it’s unclear about how it will help ordinary people to find a truly affordable home,” he said.
Hammond had been under pressure to make changes to stamp duty, with critics of the tax claiming it has been causing problems for the housing market. First-time buyers need to save for longer as rising prices mean they need more money to cover their deposit as well as the tax, while families stay put and extend their homes rather than move and pay the charge.