George Osborne risks skewing the housing market at a huge cost to the Treasury with plans to boost home ownership through mortgage guarantees, a powerful committee of MPs has warned.
The Treasury committee warned the Chancellor's Help to Buy scheme is "very much work in progress" and may propel the Government as an active player in the market with a financial interest in maintaining house prices.
MPs warned a lenders fee structure the Government intends to put in place to cover the scheme's costs will be "extremely difficult" to price in a way that "sharply curtails Exchequer risk".
More top news
More rain to come in the north tomorrow, as south sees best of dry and warmer weather.
Should Big Sam stay or should he go? The FA's chairman Greg Clarke has a difficult decision to make about the England manager job.
Westminster cats Larry and Palmerston rule the roost in Downing Street, says former deputy prime minister Nick Clegg.