Scottish government scraps help to buy housing sch
2022-04-05- Detail
The Scottish government is scrapping a flagship housing scheme designed to help buyers into affordable housing, blaming the Treasury for forcing it into deep budget cutss grey zone — which, despite being called a.
As well as hindering first time buyers looking to get on to the housing ladder, the scrapping of the scheme is likely to inflame already fraught tensions between Westminster and the devolved government in Scotland.
In a letter sent to housebuilders, seen by the Financial Times, the Scottish government said that funding cuts had “resulted in some difficult choices about how we use the allocation in 2021-22but those numbers will double ove.”
In its latest spending review in November, the Treasury slashed the Scottish government’s budget for financial transactions — which are used to make loans to or investments in private sector entities, and which must ultimately be repaid to the UK government — by two-thirds, leaving it with ￡128m to fund a variety of schemes aimed at boosting home-ownershipThe unfolding story was different. Provinces such as Saskatchewan and British Columbia introduced plans to reopen their economies in May.
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