Young first-time buyers in England could buy a house at 20% below the market rate if the Conservatives are re-elected, David Cameron has pledged.The Tory leader said the party would build 100,000 new homes reserved for those under 40 buying their first home. They would be exempt from some taxes and would be built on brownfield land already identified for development, Mr Cameron said. Making this pledge – an extension of the Help to Buy mortgage scheme – Mr Cameron said the Conservatives wanted more young people to “achieve the dream” of owning their own home.
“I don’t want to see young people locked out of home ownership,” he said. “We’ve already started to tackle the problem with Help to Buy mortgages – and these new plans will help tens of thousands more people to buy their first home.”
Sounds good eh?
Not if you think, as I do, that the state has no business getting involved in the housing market. But, as a true socialist, Cameron has announced a state subsidy. He wants to appear generous. How easy it is to be generous with other people’s money! The scheme will be paid for, of course, out of further taxation and, as he has said, tax exemptions on those who are helped to buy.
Thus the taxpayer – already labouring under a heavy burden – will pay yet more in taxes.
This amounts to the abandonment of morality in politics as Cameron tries to buy votes with our money.
Not only is the scheme a state subsidy, it is a subsidy tomorrow – like jam tomorrow. If he was going to do it, why hasn’t he done it already?
Is Cameron really so cynical as to think that the public will fall for this trick?
Yes, he is. And we will.