“Please sir, may we have some more?”

… shouted the land bankers home builders, and their wishes were granted.

From the BBC:

A mortgage guarantee scheme to help people with small deposits get on the property ladder is set to be announced at next week’s Budget. The government will offer incentives to lenders, bringing back 95% mortgages which have “virtually disappeared” during the pandemic, the Treasury says.

Chancellor Rishi Sunak says public finances are facing a “challenge” from the pandemic’s impact on the economy. The government has borrowed £271bn this financial year – up £222bn on 2019-20.

Right, so he is meeting that ‘challenge’ by spending more on subsidies to land ownership? It’s all bubbling up to the next ‘financial crisis’ due to hit us in 2025-26; whether the Covid-19 hiatus will delay that is an open question. To make matters worse, the SDLT holiday is coming to an end, so he is collecting more tax from transactions in land and spending the proceeds on subsidies to buying land? Either tax something or subsidise it, but not both at once.