Bank to supervise housing plans
George Osborne is to give the Bank of England a greater check over the government's Help to Buy scheme to ensure it does not fuel a housing boom. The Bank will make annual reviews, rather than every three years.
Osborne asks BoE to intervene on Help to Buy scheme
George Osborne is to give the Bank of England an emergency brake on the government's Help to Buy scheme, enabling it to intervene if there are signs it is creating a housing boom.
The Bank's Financial Policy Committee (FPC) will make annual reviews of the scheme, starting next September.
The committee had been due to make an assessment of Help to Buy only after its first three years of operation.
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