Vince Cable calls for re-think on the Help-to-buy scheme
Business Secretary Vince Cable has called on the Government to look again at their Help-to-Buy property scheme as fears of a new house price bubble increase.
Mr Cable told Sky News: "The controversy is over the second part of the scheme which is a guarantee scheme that doesn't take effect until the New Year."
Asked if he thought the scheme needs to be rethought, Mr Cable went onto say: "The Government is going to have to look at that the way the market is developing.
"We should certainly think about how it should come into effect in light of changing market conditions. We don't want a new housing bubble. If you are in Northern Ireland or Wales, or indeed the East Midlands, you would wonder what all this was about. But, certainly in London and the South-East and the North-East of Scotland, there are serious housing inflationary pressures."
September 13, 2013
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