Government’s housebuilding package falls billions of pounds short, says former top Treasury official

The UK government is working to complete a house building program for citizens. But it has fallen billions of pounds short, according to a former Treasury official. That has sparked debate about the efficiency and effectiveness of the UK government. House building is a worthwhile and important program for the government to undertake in full. However, the revenue loss has signaled that the project is doomed. Follow the story and the decisions that the government will make.

Key Takeaways:

  • The United Kingdom’s housing package budget reflects a weak government.
  • The stamp duty exemption is a weak effort to help first time home buyers who are miles way from being able to afford a house.
  • Philip Hammond is the main target for criticism, as his policy did little more than shore up his political interests.

“You’ve got to spend tens of billions of pounds over 10 years to really make an impact.””

Read more: https://www.independent.co.uk/news/business/news/house-building-package-government-treasury-budget-2017-philip-hammond-sir-nick-macpherson-a8071461.html

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