As Shadow Chancellor Rachel Reeves visits Wave Community Bank this morning, are Labour urging the government to ease burden on households as new figures reveal Tory first-time buyer mortgage penalty adding £500 a month to bills.
Labour have said that if in government they would both ease the cost of living crisis now – and would be the party of home ownership with their ambitious plan to help get first time buyers on the ladder.
They are urging the government to bring in a council tax freeze now, funded by a proper windfall tax on oil and gas giants, to ease the cost of living on families.
And they have set out plans to help more first-time buyers onto the ladder with a comprehensive mortgage guarantee scheme and by giving them ‘first dibs’ on new developments in their area, stopping entire developments being sold ‘off-plan’ to overseas investors.
Labour has also set out plans to reform planning and compulsory purchase rules to build more genuinely affordable homes for first-time buyers.
Speaking ahead of the visit, Labour’s Shadow Chancellor Rachel Reeves said:
“The Tory mortgage penalty is devastating family finances, destroying dreams and holding back our economy.
“There is so much promise and potential in Britain, that we can unlock if we can have a government that will put working people first and get the economy growing.
“That is what Labour will always do. Right now, we’d be freezing council tax, funded by a proper windfall tax on oil and gas giants to help ease the cost of living crisis facing so many.
“And as the party of home ownership, we’d be putting in place a plan to help make those hopes of home ownership realised.”
