New | Osborne seeks to boost number of homeowners
Chancellor of the exchequer hopes to prop up the market by helping people buy properties
British Chancellor of the Exchequer George Osborne hopes to double the number of first-time homebuyers as opinion polls continue to show a tight race before the May 7 election.
Osborne told the Sunday Telegraph that his Conservative Party would seek to increase the amount of first-time buyers to 500,000 a year by 2020 if it won re-election.
"We can deliver a revolution in home ownership," he said, according to the newspaper. "We want to see a massive increase in the number of people who can own their own home."
Osborne has sought to rejuvenate Britain's housing market as a driver of the economy with programmes such as Help to Buy, in which the government assists those with small down payments to buy property. They would be extended to meet the new target, he said.
While warning that Greece could leave the euro area "by accident or mishap", Osborne maintained a focus on domestic politics by saying "the biggest risk at the moment" was an electoral victory by the opposition Labour Party.
Labour leader Ed Miliband used an interview with the Sunday People to criticise the so-called bedroom tax, where people see their welfare payments docked if they have unoccupied bedrooms.