Prescott launches teacher home loan scheme
Deputy Prime Minister John Prescott has outlined new plans to help public sector workers to buy their own properties in an attempt to persuade key workers to stay in London and the Southeast.
The Government announced today that teachers are to receive interest-free loans of up to £50,000, while others will receive discounts on the costs of rented accommodation in the south of England.
The disparity between property prices in London and the salary of teachers has been blamed for recruitment problems in the south of England.
Speaking on ITV, Mr Prescott said: ‘Let us get good environment good design good energy saving so that people can have a house to all the modern standards.’
The loans will cover 25% of the price of properties worth up to £200,000. At the £200,000 threshold the loans will be capped at £50,000.
Mr Prescott became angered at accusations that he himself had the use of four properties and that his living arrangements were subsidised by the very taxpayers for whom the conference today was arranged.
The Deputy Prime Minister hit out at ‘stupid questions’ from the ITV journalist to whom he gave an interview.
‘I own one house, I own one jaguar and I feel quite annoyed that your stupid kind of questioning produces this kind of priorities in interviews,’ he stated.
The plans to give home loans to teachers form part of the Governments £1 bn Homebuy scheme
