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If it’s more affordable to own a home and there’s healthy taxes on second ones and investment property than you cut out private rentals. Not that hard right? There’s also a higher tax if you own your home outright.
jaw-
You can achieve all of that more equitably by building more social housing and taxing BTLs. Primary residence mortgage relief is just a bung to the voting middle classes, and as your figures suggest, it has not led to a higher rate of homeownership in the Netherlands than the UK.
I really don't think that the overheated UK housing market needs any more demand-side stimulus.
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If it’s more affordable to own a home and there’s healthy taxes on second ones and investment property than you cut out private rentals.
It's generally not the mortgage payment that's the sticking point here though. When I bought my place the mortgage was cheaper than renting the equivalent.
NickCJ
aggi
Don't get me wrong, that would be great, but you didn't outline a mechanism by which MIRAS increases social housing provision. I don't think there is one. Arguably the causality runs the other way as tax giveaways to homeowners reduce gov't revenue and spending.