Business World

Wednesday 22 November 2017

Osborne rejects bubble talk

UK Chancellor of the Exchequer George Osborne
UK Chancellor of the Exchequer George Osborne

UK Chancellor of the Exchequer George Osborne has defended his programme to boost home ownership by helping first-time buyers gather a deposit. He rejected concerns that it may create a house-price bubble.

"It's a three-year scheme," Mr Osborne said in London.

"I don't want to create uncertainty that it might suddenly end early. It's hard to see given the current financial climate that it would fulfil the fears that the committee has expressed."

Mr Osborne introduced the Help to Buy plan in an effort to revive the economy by lifting people onto the housing ladder.

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