It has been clear for years that foreign ownership of UK property and land must be restricted. Any involvement by offshore trusts should be banned. These restrictions would help prevent, or limit, situations like the present one. More importantly, with a housing shortage that affects large numbers of us, such restrictions would help constrain increasingly ridiculous property prices. It does no favours to any of us if successive governments fail to legislate to prevent the sale of properties to those who use them as vanity projects (often unlived in), and the UK merely as a secure vault for their billions. Our housing policy needs urgent and radical change, and our government needs to address this now.
Do you think this legislation will help combat the issue?