UK Prime Minister Boris Johnson has launched a new economic plan in a bid to regain popular support after he nearly lost his post following a vote of confidence earlier this week.
The ‘benefits to bricks’ scheme was introduced to address the declining home ownership rate, especially among the young in view of the rising cost of housing relative to income.
In addition, he also promised to extend the scheme that allows social tenants to buy their homes, besides also planning to launch a review of the mortgage market to improve access to low deposit mortgages.
However, critics say the proposal is unworkable as it will exacerbate the housing crisis.
Meanwhile, PM Johnson also promised more help to reduce the rising cost of living and tackle inflation which is now at a 40 -year high.
Boris Johnson recently nearly lost his post as UK prime minister following a vote of confidence sparked by his own MPs, amid anger over breaches of the Covid-19 rule on Downing Street as the country implements curfews in 2020 and 2021.
Still, he is fortunate that 59% of parliamentarians still support his leadership.
