Big fall in numbers helped by Government’s first-time buyers scheme

The ManxTaxPayers Alliance says number of purchasers benefiting from support through the Isle of Man Government’s first-time home-buyers schemes has fallen dramatically.

The group says that just 20 first-time purchasers have been assisted in the last financial year. 

The data was obtained under the Freedom of Information Act protections.

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Spokesman, Michael Josem, said:“Like many other complicated Government schemes, they have attempted to arbitrarily help a narrow group of people, without addressing the underlying problem. We simply have more demand for housing than supply, which means that housing is increasingly inaccessible to people on the Isle of Man. 

“Taxpayers could save money on these narrow and complicated schemes if the Government simply allowed people to build enough housing to satisfy demand for housing on the Isle of Man.”