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29 February 2012
In our Budget submission, we welcome the NewBuy initiative and highlight four other key issues that we hope the Chancellor is considering. The first is mortgage funding, and the extent to which policy interventions can strengthen and diversify funding structures and encourage domestic institutional investment in mortgage assets. The second is stamp duty, where we believe reform remains necessary. The third is welfare reform, where both housing benefit and support for mortgage interest face operational changes, which must not have unintended negative consequences if they are to be pursued. Finally, we urge creative thinking about fiscal measures to optimise use of the existing housing stock.
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