MPs warn buy-to-let tax measures risk damaging whole economy

As the Ides of March grow ever closer, George Osborne’s political capital seems to be finally running out and the knives are drawn.

His Rt Honourable Conservative friend Andrew Tyrie seems to be one of the first in line to sink in the dagger. Former Head of the FSA/FCA Tyrie is now Chairman of the Cross Party Treasury Committee.

In THIS REPORT, the cross-party Commons Treasury Committee said that jobs, output and productivity could all suffer if a fall in the supply of privately rented homes led to a reduction in labour market mobility.

“Were the measures taken to curb buy-to-let to have a substantial effect, they would come at a cost to the wider economy,” the committee said.

“Access to a well-functioning, affordable housing market, including for private rented properties, has been widely recognised to be crucial to labour mobility, and hence the overall efficiency of the labour market.

“Any impediment to labour mobility will reduce employment, economic activity, and the economy’s long-run productive potential.”

Keep looking over your shoulder Georgie Boy. There is no such thing as paranoia. Your worst fears can come true at any moment. Strange how paranoia can link up with reality now and then isn’t it?