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Closed End state inteference in the mortgage industry

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We the undersigned call on the Chancellor of the Exchequer to withdraw the 'Help to Buy' scheme for first homes.

We object to this policy because we believe it is propping up house prices at unsustainable levels (£163,000 average at the time of writing), creating a catch-22 scenario for prospective homeowners struggling to get on the property ladder.

In order for first-time buyers to realistically afford their own home, we suggest that the treasury explore a number of more sustainable measures to achieve this objective, ranging from raising the stamp duty and income tax threshold to controlling the money supply (monetarism) which will enable buyers to raise larger deposits and improve their social mobility.

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    This petition will stay open until 2 August 2014.