Summary
An imbalance between the demand and supply of housing in
recent years has resulted in increasing numbers of people finding it difficult
to afford to buy their own home, with only 36% of new households being able to
afford to buy in 2005 compared to 46% in the late 1980s.
In
2004-05 the Government spent almost £470 million on two financial assistance
schemes (shared ownership and interest-free equity loans through the Homebuy
scheme) designed to extend the opportunity of home ownership to those who would
not otherwise be able to afford it, including many key public sector
workers.
This Report from the House of Commons Committee of Public
Accounts
‘A
Foot on the Ladder: Low Cost Home Ownership Assistance’ (HC 134) follows on
from a National Audit Office report on this topic,
'A
Foot on the Ladder: Low Cost Home Ownership Assistance' (HC 1086) published
in July 2006.
Here, the Committee examines how better targeting and
further refining of the low cost home ownership assistance programme could
improve efficiency and help more people.
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