Help to Buy not offering value for taxpayers

Kate McCann
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THE GOVERNMENT’S flagship Help to Buy scheme may not represent value for money for the UK taxpayer, a report from an influential committee of MPs has concluded.

The Public Accounts Committee found that the government did not conduct proper impact assesments of the scheme, nor offer alternative options to boost home ownership around the country before committing £10bn to Help to Buy, potentially breaching Treasury policy.

Chair Margaret Hodge MP said the department for communities “does not understand the overall impact of its housing strategy and the combined effectiveness of its different initiatives.

“This means it has committed to spending up to £10bn on supporting Help to Buy without establishing whether it represents the most effective way of using taxpayers’ money to achieve its objectives.”