A Gift From The Tax Payer?

The United Kingdom has not always been a country obsessed with house prices. But the Housing Act of 1980, brought in by the Thatcher Government, changed the face of home ownership in the UK. Many former local authority tenants paid less than £10,000 for council houses, that would be worth 10 times more a decade later. The massive discounts, resulted in more than a million people getting a £10,000 gift from the tax payer. Margaret Thatcher was elected to Westminster for over 10 years on the back of this policy. The result was a prolonged boom in house prices along with a chronic shortage of affordable housing. In some countries, the offer or giving of rewards is referred to as “electoral treating”. Electoral treating is legal in most countries.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: