David Cameron and George Osborne announce plans to increase home ownership

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David Cameron, the Prime Minister, and George Osborne, the Chancellor of the Exchequer, have announced plans to widen home ownership and to encourage the building of new homes.

In an article for The Times newspaper they wrote:

“Having your own place is an important stake in our economy. It’s also one of the best expressions of the aspirational country we want to build, where hard work is rewarded.

We don’t want this to be a country where if you’re rich you can buy a home, but if you’re less well off, you can’t. We want it to be one nation, where whoever you are, you can get on in life.

In the last five years, we got builders building, lenders lending, and government-backed schemes alone helped more than 200,000 people on the property ladder. The next five will be about going much further. Of course, there will be opponents – but we are determined to take them on.

It’s simple: you are either pro-reform or not; for building homes, or not; on the side of young people, or not. We know our position. As a one nation government, we will always be squarely on the side of those who want to get on”.

The Labour Party had pledged to build 200,000 new homes a year by 2020 and introduce rent controls in their General Election manifesto earlier in 2015. The party has said that they are reviewing the policies pending the election of the new leader.