http://news.bbc.co.uk/1/hi/uk_politics/7592852.stm
The government is to promise first-time buyers in England "free" loans of up to 30% of their home's value, in an effort to reinvigorate the housing market.
Households earning less than £60,000 will be offered loans free of charge for five years on new properties, co-funded by the state and developers.
So everyone else is going to subsidise other people choice to enter an exploding property market through our taxes? This is not what I thought taxes were for (health, education, policing etc)). Now they are to pay for private individuals to own property at my expense. Interesting.
The government is to promise first-time buyers in England "free" loans of up to 30% of their home's value, in an effort to reinvigorate the housing market.
Households earning less than £60,000 will be offered loans free of charge for five years on new properties, co-funded by the state and developers.
So everyone else is going to subsidise other people choice to enter an exploding property market through our taxes? This is not what I thought taxes were for (health, education, policing etc)). Now they are to pay for private individuals to own property at my expense. Interesting.
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