Sturgeon in UK housing cash plea
November 24th, 2008 by Lianne
It is strongly felt that the chancellor needs to do much more in helping the flagging Scottish housing market along with its homeowners, particularly those who have lost their jobs says the Scottish Government.
Nicola Sturgeon, the Deputy First Minister has sent written communication to Alistair Darling slightly ahead of his much anticipated pre-budget report.
Nicola Sturgeon has requested major investment for more affordable housing and more tax breaks in order to aid Scottish landlords in maintaining their current stock. There has also been a request for a much quicker introduction in the planned improvements for developing a scheme which will directly aid struggling homeowners.
Under the current Income Support mortgage (ISMI) scheme, UK Government will help to pay the interest on any mortgages which fall under £100K following the initial 9 months of mortgage arrears.
Plans to shorten this time period have already been discussed along with increasing aid to all mortgages up to £175K, however, the Scottish Government are urging that they want these changes implemented much sooner, by at least, January 2009.
Nicola Sturgeon has requested a permanent VAT reduction of 5% be passed to Registered Social Landlords to aid them in their repairing, maintaining and housing stock in order to aid the flagging construction industry.
Ms Sturgeon said:
More mortgage information:“Next week, Alistair Darling has a gilt-edged opportunity to do the right thing by lending a helping hand to boost Scotland’s housing industry. There has never been a more opportune time for the chancellor to inject significant funding for much needed affordable housing across Scotland. At a time when so many jobs are being lost, he should also provide a boost for Scotland’s construction sector”.
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