Help-to-buy should be axed as Persimmon profits pass £1bn | Nils Pratley

The taxpayer-funded scheme fuels big margins for builders and massive bonuses for their bosses Persimmon’s £75m chief executive was too politically toxic to continue in post, but his £40m deputy will do just fine as the new boss. Welcome to the nuanced world of housebuilding in the age of help-to-buy, a place were Persimmon’s pre-tax profit of £1.1bn was not the most remarkable number in its 2018 results. That prize was shared by the 31% operating profit margin and