Plan to boost UK housing economy. (First Time Buyers)

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Plan to boost UK housing economy. (First Time Buyers)

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Following the recent debate of whether or not to pump a further £50 Billion into the economy through the bank's quantitative easing (QE) programme I believe the money should be spent boosting the sales of new homes for first time buyers.
Many find themselves in a position around the UK were repayments for a mortgage can be afforded, however the initial lump sum deposit is proving to be a stumbing block.
Instead of just throwing money into the economy to be spent in any way, a scheme should be created to encourage first time buyers to save, and the Government GIVES them money which MUST be spent on a property within the UK.

Example:

House cost: £100,000
Deposit Required: 10%
First Time Buyer Saves: £5000
Government Adds: £5000


This will dramatically increase the supply of housing, keep values at a good level and get a higher percentage of the population onto a mortage scheme.

Surly this is a much wiser way of spending so much money!!!!

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