The ticking debt bomb?

2 May 2013 | Matthew Whittaker

This blog originally appeared on Public Finance

When the financial crisis first hit, politicians of all parties talked up the notion of ‘rebalancing’ the economy, moving away from a growth model dependent on financial services, house price increases and consumption and towards one based on the real economy and on trade. Five years on and, with little sign of a sustained economic recovery, the chancellor appeared to wind the clock back in his last Budget.

The new Help to Buy scheme is designed to give a shot in the arm to the housing market, making it easier for households who are currently considered too risky by lenders to get onto and move up the housing ladder.

 

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