Grant Shapps, the housing minister, told Radio 4 on the 3rd January when commenting on the end of boom and bust in the housing market, that it was not “within the gift of government to do that”. He stated that “I would be foolish to say that you can simply end boom and bust, you can’t.”
Mr Shapps did confirm that there were policies that the Government could use to influence the market such as those affecting mortgages and investments.
Contrast that with the exuberant comments coming out of 10 Downing Street in the early years of the Blair-Brown Government. “No more boom and bust.”
Such realism from a government minister seems rather novel and refreshing!