Osborne warned over mortgages
George Osborne's Right to Buy mortgage scheme has been criticised as a "work in progress" that risks skewing the housing market at a huge cost to the Treasury.
MPs outline criticism of mortgage guarantees
The Treasury committee has criticised several areas of the Chancellor's Right to Buy plans in a report on his latest Budget.
The intervention in the housing market may not even help first time buyers - the group the Government insists it is keen to support, MPs said.
They also said Mr Osborne's claim that increased demand will boost supply is "unconvincing".
MPs added that they "struggle to see the rationale for the taxpayer to stand behind loans for people wishing to own a second property".
The committee also warned the Government will come under "immense" pressure to extend Help to Buy in three years time, despite its status as "a scheme designed to deal with a supposedly temporary problem".
More top news
-
Joe Biden vows to fight racial inequality with economic agenda
The Democratic presidential candidate may also have shown his cards on his choice of running mate.
-
Trump reverts to promoting unproven drug as coronavirus treatment
The US president also shared a post on Twitter accusing Dr Anthony Fauci of misleading the public over hydroxychloroquine.
-
What the papers say – July 29
Fears over an impending second wave of coronavirus dominates Wednesday’s front pages.