Quote ="El Barbudo"An earlier question to BiffasBoys to which (s)he has yet to offer a reply...
I'm guessing the answer will be "Gordon Brown"
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At no point have I said social housing is wrong.
There is no subsidy. Seems quite smart to me. Government provides capital in far smaller amounts than it would were it to invest in social housing stock. This money isn't lost, it's secure & will not suffer from inflationary pressures.
There is no ongoing capital cost. Once any property is sold, HMG gets it's index linked money back. It's also the preferential creditor should any mortgage be defaulted upon.
The house building market is kick started, safely.