Gordon Brown
So Gordon Browns’ in and Tonys out. But what will that mean to the UK property market?
Gordon Brown will today announce his policies and tactics for the next year including tackling the rising price of UK housing (with respect to earnings). Under the final years of Tony Blairs leadership ‘house price inflation’ rose steadily raising fears that the gap between those who can afford to step onto the property ladder and those stuck needing a foot up had risen too much, with Tony Blair not wanting to upset the apple cart by too many changes at the 11th hour. We have now seen that they are considering increasing the amount of new housing built in the UK and raising interest rates (Via the Bank Of England) to combat inflation, with some ‘first time buyer’ tax breaks expected. Previous protection to certain peices of Greenbelt land may be lifted allowing housing development.
More will be anounced today with PM Gordon Brown announcing his targets and plans for 2007 onwards.