I was looking through Labours 2007 Manifesto (as you do) and this popped up at me. A proposed scheme to allow people in employment who couldn’t afford to buy, onto the property ladder. They took a 25% stake of the home whilst the government would have a stake of 75% of your new house.
Almost as if the Government was becoming a sub-prime lender…. and who aside from the person in employment would benefit?
Those that profited from a prolonged property bubble. Investors, Solicitors, Estate Agents, Developers and Banks as the market would be inflated yet again by direct government investment in housing….
…and when the crash came we’d surely have had to have had a NAMA for these households too.