May's help-to-buy extension is another boon for housebuilders | Nils Pratley

Throwing another £10bn at the subsidy scheme will do nothing to improve the UK’s underlying housing problemWhen former chancellor George Osborne launched his help to buy housing scheme in 2013, wise heads warned that, once a government starts subsidising mortgages, it will find it hard to stop.So it is proving. Another £10bn is to be thrown at help to buy, the government has said in a supposedly crowd-pleasing announcement. This is a 50% increase on the sum already spent. City