Housing Crisis Strengthens Corbyn’s Chance To Win Power In Next General Election; Richard Buxton
The housing shortage reinforces Labour Leader’s chances to win power in the next general election of UK, the lawyer in Cambridge Richard Buxton said.

The fund manager said capitalism is failing the younger generation in British since they cannot afford to buy a home. Mr Buxton warned that while capitalism does not worke, the under-40s will turn to socialism, sweeping Labour Party to power.

The boss of Old Mutual Global Investors said: “It is appalling that in 21st century Britain, the younger generation face being worse off than their parents,”

Mr Buxton urged the Conservatives to get to grips with the shortage of affordable homes, though it means paving over swathes of, until now, sacrosanct countryside.

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He asserted that unless the Government confronts the uncomfortable truth that we have to build thousands of new houses on green belt land, “then the prospect of a fiercely redistributive socialist government is firmly on the horizon,” he said:

“Look at speeding up planning processes, threaten to tax housebuilders for sitting on land banks, the market has heard it all before and nothing changes.”

The manager also said the stock market had “dismissed” Budget pledges to build 300,000 new homes, with housebuilders’ shares barely reacting. He added:

“the housing market is key to turning socialists into capitalists,”

Mr Buxton believes the Government is too focused on Brexit that has failed to deal with other problems in the country such as housing.

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