Clegg has Help to Buy doubts

Tue, 17 Sep 2013

Clegg has Help to Buy doubts
Liberal Democrat leader and deputy prime minister Nick Clegg has private reservations about the coalition's Help to Buy Scheme.

Sources close to the politician told Sky News that he thinks it might inflate the housing market so much that it will cause a bubble.

However, the informant was quick to reassure the public that Mr Clegg does not want to scrap the scheme and simply wants to keep a close eye on it to make sure that its legacy does not harm the country's economy.

Clegg's Liberal Democrat ally Vince Cable has been much more vocal in his criticism of the scheme and has said it might cause an "old-fashioned property boom" that would be beneficial in the short-term but leave a hangover of debts in the long-run.

In an interview earlier this week, Mr Clegg said: "I don't think that any government scheme creates such a massive bubble on its own but of course we have to be vigilant about what is happening in the housing market."
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