Help to buy has mostly helped housebuilders boost profits

A Morgan Stanley report shows the government’s subsidy has driven up the price of new-build homes – and now it is lining up another £10bnThe chancellor, Philip Hammond, is lining up another £10bn to extend the “help to buy” programme first launched by George Osborne in 2013, which has already sucked up £10bn of taxpayers’ cash. Yet a report from Morgan Stanley – not usually the type to stick the knife into a flagship government policy –