Self Invested Personal Pensions And Affordable Housing
EDM number 1146 in 2005-06, proposed by Andrew George on 29/11/2005.
That this House believes that the Treasury's plan to extend the opportunity for Self-Invested Personal Pension Plans (SIPPs) to invest in residential property from April 2006 will represent a very significant inducement for purchases of second and holiday homes in rural areas which will drive up house prices in areas with a serious shortage of housing for local people; and calls upon the Government to reconsider its proposal and to amend regulations so that SIPPs is extended only to investors in portfolios of properly managed schemes for shared equity, mutual ownership, rented and other affordable housing schemes for local people.
This motion has been signed by a total of 36 MPs.
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