Is there anyone left who thinks the Government’s Help to Buy scheme is a good idea? This week’s Spectator splashes on the risks of this property bubble wheeze.
Merryn Somerset Webb warns that the scheme, which underwrites mortgages, will lead to rising house prices. She argues that ‘if anyone other than the government manipulated a market to this extent, it would be illegal’:
The latest is the one that worries even the king of stimulus himself, Sir Mervyn King.