As somebody who will shortly be selling a house in the FTB market, I think it's a great idea
The second best would be to give a grant to anyone who buys a newly built house.
As reported it's not a good idea.
The best initiative would be to significantly reduce the government's tax take on new houses.
The second best would be to give a grant to anyone who buys a newly built house.
Giving first time buyers grants to buy second hand houses achieves nothing.
Brendan
OK, then why don't we have 50% VAT?
Cutting VAT or giving grants directly to FTBs both constitute State subsidies to builders.
I'm not suggesting that builders (or their products) should be taxed more heavily than any other sector of our economy - I simply don't understand why the building industry should be treated more favourably than any other industry.
Distorting the market won't solve the problem.
Hoteliers certainly made hay from the proceeds of the pension raid that was used to fund the VAT cuts.
Although such things can't be proved definitively, the increase in activity more than made up for the rate cut from 13.5 to 9 - these things are not zero sum gains.
Local authorities will fight that, though, as it's one of the few income streams they have.
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