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Home ownership decline will cost government £8bn in benefits, says think tank

Declining home ownership will cost the government an extra £8bn in housing benefits for the elderly by 2060, a think tank claims.

The Strategic Society Centre claims that projections of declining owner-occupier rates could cost the government billions more in benefit payments.

The report argues that debate on declining rates of home-ownership must recognise the long-term implications for public spending.

It states that given the future public cost it is legitimate for the government to take aggressive measures to boost rates of home-ownership now.

Author James Lloyd, director of the SSC, believes the buy-to-let sector and individuals buying second homes will cost the public purse in the long run and warrants action.

The report states: “Although the current rules around ownership and property-taxation enable some individuals to own multiple properties, such behaviour will impose significant costs on the Exchequer in the long-term, and policymakers therefore have a legitimate reason to implement strident measures to reduce such activities.”



Underwear retailers won’t do the best deal

As Tesco’s will-they, won’t-they foray into the mortgage market rumbles on, another British retailer seems to have stolen a march. Marks & Spencer is gearing up to launch bank branches that will include a mortgage offering.

House prices down 0.6% in June

House prices fell 0.6% in June, taking the average house price down to £165,738, according to Nationwide.

Time for a new approach to asset allocation

Trevor Greetham, RLAM’s head of multi asset, introduces the recentlylaunched RL GMAPs. Asset allocation has become an increasingly difficult challenge for investors and advisers in the years since the financial crisis. Sometimes violent price swings in stock and commodity markets coupled with the collapse in the rate of interest on bonds have made it harder […]


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