Labour: Help to Buy will increase demand but not supply

Labour has described the government's Help to Buy scheme as a "lopsided approach" that will increase demand for housing without addressing supply.

Shadow Treasury Minister Chris Leslie told BBC Chief Political Correspondent Norman Smith said, "If prices get higher and higher, then this concept of affordable housing is just going to be a mirage."

"A lot of property developers are sitting on great land banks," he continued, "...it's baffling why they haven't taken that more balanced approach."