The housing minister’s comments suggesting that parents should disinherit their offspring and leave their assets to their grandchildren has been branded “political headline grabbing” and a diversion from the heart of the housing crisis: supply.
According to the Telegraph, Gavin Barwell told a fringe event at the Conservative Party conference that pensioners should consider leaving their homes and wealth to their grandchildren to combat “intergenerational unfairness.” He said that his own mother had “disinherited” him and will pass on her home to Barwell’s three children and her other grandchildren.
Brightstar Hub chief executive officer Rob Jupp, told Mortgage Strategy: “This smacks of cheap, political headline grabbing without addressing the key fundamentals, which is there hasn’t been enough housing built in the UK for a generation.”
He says that many of the current generation rely on ‘The bank of Mum and Dad’ to get on the housing ladder and that without it they would be “condemned to a lifetime of overpriced renting.”
“Housing needs to be a front line cabinet role and not one that’s badged with a number of second rate responsibilities sitting in the second division of government,” says Jupp.
At the fringe meeting, Barwell acknowledged the supply issue by saying there is a “a desperate need to build more homes.”