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Article

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Publication Details

The Sunday Times 19.06.2016. Reproduced here with kind permission of the Sunday Times newspaper.

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Abstract

Much debate about housing has centred on proposed solutions such as the Central Bank’s lending limits and a reduction in VAT for developers. The Department of the Environment’s contribution managed to bypass the democratic process, ignore its own civil service rules, then introduce newmandatory smaller apartment sizes, which, it said, would bring down costs and stimulate development. Of course, such a crude move did no such thing—just as reducing VAT for developers and lifting bank lending ratios for lenders will not create an affordable housing system. These “solutions” are like Nero fiddling as Rome burned behind him.

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