George Osborne caricature
Property indusrty comment for Estates Gazette Magazine
The image of the chancellor is a popular subject covered in my editorials for the magazine as he is the politician most closely linked to enabling the economy that in turn enables property development projects and influences the property market. Policies such as Help to Buy have been popular with some first time buyers and those looking to buy to let. But critics raise conserns that it a government should not guarantee mortgages for private purchasers as this might not only lead to the tax payer being left with huge financial burdens arising from defaults, but also that the scheme adds heat to an already over-heated and inflated house prices.
The chancellor has also presided over the slowest recovery since records began, with average wages rising below inflation for the fourth year in a row, which makes rents and mortgage repayments harder and harder for workers to meet. But as he is famous for saying he he has no plan b.