The Council of Mortgage Lenders has told the Chancellor of the Exchequer to stop the piecemeal Government interventions in the housing market which it believes is should take second place to a coherent vision.
In a Budget “wish list” sent to the Chancellor the CML has also said the Government needs to actively explore how to reduce the current systemic divides between owning and renting to allow a more robust and flexible housing market structure to develop.
It has also urges called for a freeze on property-related taxation at current levels by increasing tax thresholds and for the Government to recognise the central role home-ownership plays in the UK as the tenure of choice for most people and a means of improving the financial and social fabric of the UK.
CML deputy director general Peter Williams says: “The Treasury understandably sees the housing market as a source of revenue. But this creates a risk of failing to see the wood for the trees. The housing market has so much potential to contribute to delivering the Government's economic objectives, but only if Ministers start to develop a clear vision for it, in place of the current ragbag of piecemeal interventions.”