Re: Re: Is part five of the planning and development act 2000achieving its aim
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Part V is a tax on suppliers. Supplier taxes result in higher net consumer prices.
The income from Part V is allocated by lottery to ‘people in need’. This is welfare by lucky dip.
The introduction of these measures was frightening – how could anything so dumb be even considered? It’s the same mindset that prints more money to help the economy. Mammoth stupidity or bottomless cynicism. You decide.
One reason may be that the government’s real aims are contradictory: to provide affordable housing without allowing house prices to fall.
Affordable is another word for low prices and prices drop when supply increases (given constant demand). The primary constraint on supply is planning regulations which are determined by government.
I predict that Part V will soon be abandoned as houses become ‘more affordable’ over the coming years.