Morning Call: pick of the papers

The ten must-read comment pieces from this morning's papers.

1. George Osborne's strategic mind? Long may it continue to whirr (Guardian)

As the Tories gather for their crisis conference, their plans to win back support are growing more and more dotty, writes Polly Toynbee.

2. Faithless Britain is still a country of compassion and principles (Daily Telegraph)

Times have changed, and Ed Miliband may be on to something with his political creed, says Fraser Nelson.

3. Republicans are losing the US culture wars (Financial Times)

The party seems ever more out of touch with a public mood framed by greater tolerance, writes Philip Stephens.

4. Don’t risk victory under false pretences, Ed (Times) (£)

After the virtuoso performance must come honesty about cuts, says Philip Collins. There is one approach that wins hands down.

5. Sanctions hurt Syria and Iran but regimes can ride on regardless (Independent)

One of the small but immensely wealthy states which may suffer from Iran's crisis is Dubai, writes Robert Fisk.

6. US debates: the illusion of choice (Guardian)

The issue is not what separates Romney and Obama, but how much they agree on, says Glenn Greenwald.

7. Syria inaction could ignite a fragile region (Financial Times)

Hostility with Turkey reflects the international system’s failure, writes Sinan Ulgen.

8. The BBC, tax and a question of morality (Daily Mail)

The corporation hands out 25,000 contracts a year to employees who do not pay tax at source, notes a Daily Mail leader.

9. Does the Tory party still care about its voters? (Daily Telegraph)

A metropolitan agenda aimed at winning new support has alienated the Conservative Party's traditional base, says Liam Fox.

10. Learn from the errors of the Westland Affair and let the Europeans come to our defence (Independent)

Yet again, when Britain is forced to choose between a special relationship with America and cultural affinity with Europe, it chooses dithering and delay instead, writes Mary Dejevsky.

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How can Britain become a nation of homeowners?

David Cameron must unlock the spirit of his postwar predecessors to get the housing market back on track. 

In the 1955 election, Anthony Eden described turning Britain into a “property-owning democracy” as his – and by extension, the Conservative Party’s – overarching mission.

60 years later, what’s changed? Then, as now, an Old Etonian sits in Downing Street. Then, as now, Labour are badly riven between left and right, with their last stay in government widely believed – by their activists at least – to have been a disappointment. Then as now, few commentators seriously believe the Tories will be out of power any time soon.

But as for a property-owning democracy? That’s going less well.

When Eden won in 1955, around a third of people owned their own homes. By the time the Conservative government gave way to Harold Wilson in 1964, 42 per cent of households were owner-occupiers.

That kicked off a long period – from the mid-50s right until the fall of the Berlin Wall – in which home ownership increased, before staying roughly flat at 70 per cent of the population from 1991 to 2001.

But over the course of the next decade, for the first time in over a hundred years, the proportion of owner-occupiers went to into reverse. Just 64 percent of households were owner-occupier in 2011. No-one seriously believes that number will have gone anywhere other than down by the time of the next census in 2021. Most troublingly, in London – which, for the most part, gives us a fairly accurate idea of what the demographics of Britain as a whole will be in 30 years’ time – more than half of households are now renters.

What’s gone wrong?

In short, property prices have shot out of reach of increasing numbers of people. The British housing market increasingly gets a failing grade at “Social Contract 101”: could someone, without a backstop of parental or family capital, entering the workforce today, working full-time, seriously hope to retire in 50 years in their own home with their mortgage paid off?

It’s useful to compare and contrast the policy levers of those two Old Etonians, Eden and Cameron. Cameron, so far, has favoured demand-side solutions: Help to Buy and the new Help to Buy ISA.

To take the second, newer of those two policy innovations first: the Help to Buy ISA. Does it work?

Well, if you are a pre-existing saver – you can’t use the Help to Buy ISA for another tax year. And you have to stop putting money into any existing ISAs. So anyone putting a little aside at the moment – not going to feel the benefit of a Help to Buy ISA.

And anyone solely reliant on a Help to Buy ISA – the most you can benefit from, if you are single, it is an extra three grand from the government. This is not going to shift any houses any time soon.

What it is is a bung for the only working-age demographic to have done well out of the Coalition: dual-earner couples with no children earning above average income.

What about Help to Buy itself? At the margins, Help to Buy is helping some people achieve completions – while driving up the big disincentive to home ownership in the shape of prices – and creating sub-prime style risks for the taxpayer in future.

Eden, in contrast, preferred supply-side policies: his government, like every peacetime government from Baldwin until Thatcher’s it was a housebuilding government.

Why are house prices so high? Because there aren’t enough of them. The sector is over-regulated, underprovided, there isn’t enough housing either for social lets or for buyers. And until today’s Conservatives rediscover the spirit of Eden, that is unlikely to change.

I was at a Conservative party fringe (I was on the far left, both in terms of seating and politics).This is what I said, minus the ums, the ahs, and the moment my screensaver kicked in.

Stephen Bush is editor of the Staggers, the New Statesman’s political blog.