After three years defending the deficit reduction programme, George Osborne doesn't want to see his plan foiled by a bubble
The Treasury insists the Bank of England's new powers to cap mortgages do not amount to an admission of error over introducing the Help to Buy scheme for first-time buyers.
Nor would the department dream of conceding that the intervention amounts to a wider complacency about the threat of a house price fuelled bubble wrecking the recovery.
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