A new report by the UK’s National Audit Office has found that the government’s ‘Help to Buy’ equity loan scheme, launched to help first time home buyers, has handed billions of pounds to already wealthy homeowners.
According to the report, the scheme has also boosted profits for big property developers.
RT’s Keiser Report discusses the effectiveness of the scheme which has been the flagship program of George Osborne, Chancellor of the Exchequer in 2013.
It’s a Ponzi scheme that took from the ordinary tax payer and gave it “to a group of well-heeled investors,” Stacy Herbert says. She is echoed by Max Keiser who says that George Osborne is a menace for the UK.
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