UK Money News
10th April 2008
Aid scheme for first time buyers is 'tokenistic', say Lib Dems
Government plans to help first time buyers with grants of £1,500 will do very little to alleviate their plight, according to the Liberal Democrats.
The introduction of the grant system was announced by the housing minister Caroline Flint this week, who said that the fund will contain £3 million and that it will be made available through the Open Market HomeBuy scheme.
The grants are intended to help first time buyers to pay solicitor's fees and cover the cost of furnishing a home.
However, Liberal Democrat shadow communities and local government (CLG) secretary, Julia Goldsworthy has said the scheme constitutes "tokenism of the worst kind", since just 2,000 people will be helped.
She added: "The government has already spent £350 million on a scheme that has helped just 700 families and now Gordon Brown is proposing these new grants will be enough to help families into new homes.
"With the credit crunch starting to bite, the government should ensure everyone has access to independent advice to prevent overstretched families finding themselves in severe financial difficulties.
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