Whenever Tories and developers get together the consequences for both taxpayers and the environment are likely to be detrimental.
Immediately following March’s Budget property developers were briefed by a government minister to the effect that planning legislation will be slackened, allowing developers to begin a massive immigration driven house-building programme. This arises directly from Budget announcements relating to new homes and first-time home owners, proposals that will see a lot of taxpayers’ money flooding into construction company coffers, at no small cost to both the public purse and environment.
Media reports suggest that the Tories are poised to remove planning permission requirements for many developments – allowing them to ride roughshod over local opposition – as we have already seen in respect of the controversial landscape wrecking HS2 rail link project. Furthermore it is claimed that the £15.5 billion government package will create a building boom that, inevitably, will generate huge profits for developers at our expense.
The meeting spelling out further deregulation of the planning system was held in a plush Mayfair location, with some 150 representatives of the construction industry present, many of them Tory party donors.
One consequence of the proposals is that wealthy homeowners will be able to use state subsidised mortgages to buy multiple homes, which they can then rent out at high rents to tenants whilst waiting for property prices to rise.
This follows disclosures in the national media that dozens of property firms have given a total of £3.3 million to the Conservative party over the past three years, including large gifts from companies seeking to develop rural land. These same developers are alleged to have paid thousands of pounds for access to senior Tories through a lobbying group which sets up “breakfast meetings” to discuss planning and property issues.
As with the banks, the Tories are once again exposed as using our taxmoney for the benefit of its corporate pals.
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If these houses are to be built in or near villages, or out in the country on green belt land, where will the people who buy them work, seeing that most work is in the towns? Furthermore, even with the government subsidy, an awful lot of money is still going to have to be borrowed.
Is the government in danger of creating another ‘sub-prime bubble/disaster?
The answer to your question Mo is that the government is doing this to reward their benefactors in the building industry and to get kickbacks from same. Labour used to do this for the unions – give them grants ad tax breaks in return for donations. They will create a housing bubble and will make a lot of money from it pulling out just before it collapses or is collapsed by them. They are all thieving scumbags.