Labour consults on new duty on Bank of England to control house prices

12 April 2019: Labour is consulting on proposals to introduce a duty on the Bank of England to control house prices. It would require the Bank to place tighter controls on mortgage lending in order to reduce the gap between earnings and house prices. It is also reported to be considering whether there should be regional variations reflecting local price growth. The policy of giving the Bank a “house price growth guide” would require a change in its mandate.