The scheme has already been criticised amid fears it will artificially inflate house prices and create another housing bubble, after ministers were forced to admit the rich would be able to use it to buy a second home.
However, a report by the National Institute of Economic and Social Research also warns it will provide "another subsidy to an unreconstructed banking sector", and adds: "The economic rationale for designing a mortgage market intervention in this way is almost impossible to understand."
Contextual targeting label:
Finance
