George Osborne has claimed that Funding for Lending and Help to Buy schemes are “not weapons of mass destruction but tools to help people get on the housing ladder.”
Commenting in response to recent concerns that the schemes have not just helped the housing market but are overheating it too, he said that house prices and mortgage approvals were far below pre-crisis levels while the new regulatory regime, particularly at the Bank of England, was set up to watch for precisely these risks.
“Let’s be alert to the risks but let’s not pretend there’s a housing bubble.”
Sources: The Daily Telegraph, The Guardian
We say: And the Pope’s not Catholic and bears don’t sh*t in the woods and God didn’t make the little green apples, and it don’t rain in Indianapolis in the summer time. And there’s no such thing as Dr Seuss or Disneyland and mother goose, no nursery rhymes…