Carney is right to warn about the risks to our economy of a housing market where housing demand hugely outstrips

My response to the Governor of the Bank of England’s comments on the housing market:

“Mark Carney is right to warn about the risks to our economy of a lop-sided housing market where housing demand hugely outstrips supply.

“The Governor’s comment that the Bank of England can’t build a single home puts the ball firmly in George Osborne’s court to act on housing supply. He should also reform Help to Buy by cutting the £600,000 limit and introduce the Help to Build scheme we have called for. The Chancellor cannot wash his hands of what’s happening in the housing market.

“Unless the government acts the danger is that the Bank of England will be forced to raise interest rates prematurely.

“Labour is clear that you can’t deal with the cost-of-living crisis without building many more homes. That’s why we have committed to getting at least 200,000 homes a year built by 2020.”

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Posted May 18th, 2014 by Ed

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