Help to buy scheme to close this year, Treasury confirms

'Specific purpose successfully achieved'

Carmen Reichman
clock • 1 min read

Chancellor Philip Hammond is to close the former government's help to buy scheme by the end of this year, saying it had "achieved its purpose".

In a letter to Bank of England governor Mark Carney, Hammond (pictured) said the scheme was "introduced with a specific purpose that has now been successfully achieved", insisting it was always due to finish this year, SkyNews reported. The move was the latest in a series of policy U-turns since David Cameron left Downing Street in July and new Prime Minister Theresa May sacked George Osborne as Chancellor. Others include ending the ban on new grammar schools and changing the priorities of Osborne's "Northern Powerhouse". Help to buy was launched by Osborne in his 2013 Autumn State...

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