Institute for Fiscal Studies (June 2024)
By stewartb
On 20 June 2024 the Scottish Government announced the following: ‘Help for first-time buyers across the country on low to medium incomes’.
This is described on the Scottish Government website: ’A scheme to help first time buyers and certain priority groups step on to the property ladder has reopened for applications. The Open Market Shared Equity (OMSE) scheme is available across Scotland to first-time buyers on low or medium incomes who cannot afford the full price of a home. (my emphasis)
‘Successful applicants will be able to buy a home without having to purchase it in full, usually between 60% and 90% of the property’s value, with the Scottish Government owning the remaining share.’
This is the latest stage within a Scottish Government intervention termed ‘Low-cost Initiative for First Time Buyers (LIFT)’ that has been operating since 2007.
Under-reported outcome?
A recent report from the Institute for Fiscal Studies entitled ‘How do the last five years measure up on levelling up?’ has very few references to Scotland even though this Tory policy had supposedly UK-wide objectives.
The only substantive reference to Scotland in the 19 page report is in Figure 10, reproduced below (with my addition of the red horizontal line for emphasis). Candidly, I had no idea that in Scotland the homeownership rates amongst younger people would be so relatively high. Not something I would expect to learn from BBC Scotland, STV, The Herald, The Scotsman, the Record etc. of course!
Talking-up Scotland / Facts on NHS, Crime, ferries and everything else you can think of 
WHAT A PITY ENGLAND CANNOT OFFER THIS SERVICE TO THEIR YOUNG PEOPLE
LikeLike
could the a sense of student fees make a difference?
That ggraph shows the desperate plight of London, Ian Murray won’t be getting much Levelling Up funding for distribution in Scotland.
LikeLike
BRUCE ANDCALL HER BBC LIARS
should be sacked without trial
LikeLike