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BCC: Parties’ Vote-Buying Policies on Housing Don’t Make Sense

Commenting on electoral proposals for direct intervention in the housing market, John Longworth, Director General of the British Chambers of Commerce, said:

“With each passing day, we see yet more vote-buying policies from political parties of all colours. Labour’s latest housing announcements are a case in point.  

“Labour’s proposals for swingeing rent controls, regulation of landlords and elimination of stamp duty for first-time buyers simply don’t make sense. These policies will undermine house-building in the private rental market, while stoking demand in the sales market without doing anything to improve supply.

“As with the Conservatives’ proposal for Right to Buy for Housing Association tenants, we see a political party proposing to intervene directly in a market in order to win votes, with little thought to the future consequences for individuals, investors, or businesses.

“We still await, from all of the parties contesting this election, a compelling vision for the future of the United Kingdom – and how we will ensure our economic prosperity and pay our way in the world.”

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