This week, there has been an increase in attention towards Chancellor Jeremy Hunt, as he is expected to announce his Spring Budget in two weeks’ time. In the previous Autumn budget, the main focus was on businesses. However, with the general election approaching, it is anticipated that Hunt will prioritize individuals in an effort to boost his party’s political appeal.
Reports this week have suggested Hunt is drawing up plans for a new scheme that would allow first-time buyers to purchase a home with only a 1% deposit, with the government acting as a loan backer. The scheme is part of the Conservative Party’s efforts to appeal to younger voters and homeowners, who have been increasingly priced out of the housing market. The party faces competition from Labour, which has promised to be “the party of home ownership.”
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