UK News 26-05-2005 who: Gordon Brown what: Unveils part-ownership plan to get first-time buyers on the property ladder where: LONDON when: Sunday snippet: Under the scheme, buyers will pay as little as half the cost of a house, with the rest being paid for by the taxpayer and financial institutions. "This is a bold strategy," says The Mail, quick to point out it was originally proposed by the Conservatives. "And the economy can only benefit if it leads to more home ownership and more stable prices by guaranteeing a consistent supply of first time buyers." However, the paper`s leader writer warns that the system could be open to abuse and is concerned that its implementation could lead to "armies of additional bureaucrats". In other property news, The Telegraph says Prince Charles has criticised John Prescott`s policy to demolish up to 400,000 homes in the Midlands and the North, saying that it would "cost far less in financial, social and environmental terms to refurbish and convert them". [... more]

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