It turns out that, not only will millionaires, including most of the ToryLibdem Cabinet, get a £100,769 tax cut on April1st, the budget now gives them the chance of a Government subsidised Holiday home.
The “Help To Buy” scheme might even allow people to get a subsidy to purchase a £600,000 house for conversion to one bedroom flats or bedsits to make maximum capital by taking advantage of and profiteering from, those forced out of their houses due to the “Bedroom Tax”
Shadow chancellor Ed Balls Says:-“It now seems his mortgage scheme will help people no matter how high their income to buy a subsidised second home worth up to £600,000,”
“From what I can see, the government is basically saying if you have got a spare room in a social home, you will pay the bedroom tax but if you want a spare home and you can afford it, we will help you buy one. That is not just tax cuts for millionaires, it is – dare I say it – a spare homes subsidy.”
I think that any funding for housing should have been invested on building Social Housing for the millions on council and Housing association waiting lists.