CPS Claim ‘Cost-Neutral’ Policy Will Create One Million Homeowners

The Centre for Policy Studies has come up with a novel proposal which they say could see one million more people become homeowners in one year. ‘Help to Own’ aims to make it easier for ‘Generation Rent’ to buy while also incentivising landlords to sell to their tenants by introducing a scheme for a single year that would pool capital gains tax receipts on the sale of rented homes in order to then grant them back as rebates to landlords and tenants.

33% of each rebate would go to the landlord while 66% would go towards the deposit of the purchasing tenant. The CPS have crunched the numbers and say the net effect would be to increase revenue to the Treasury, while the tenant would only need to stump up the cash for 3.33% of the property upfront, with the capital gains rebate making up the rest of the 10% deposit they need to get on the property ladder. Like ‘Right to Buy’, ‘Help to Own’ could be a game changer in granting people a tangible stake in the economy, all at no extra cost to taxpayers…




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Dominic Raab wrote in his letter of resignation…

“This is, at its heart, a matter of public trust,” he told the PM, concluding: “I cannot reconcile the terms of the proposed deal with the promises we made to the country in our manifesto at the last election… I believe that the regulatory regime proposed for Northern Ireland presents a very real threat to the integrity of the United Kingdom. I cannot support an indefinite backstop arrangement, where the EU holds a veto over our ability to exit…”

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