‘Shoddy’ Help-To-Buy homebuilder Persimmon causes outrage over £1BILLION pre-tax profits

'Shoddy' Help-To-Buy homebuilder Persimmon causes outrage over £1BILLION pre-tax profits

UNDER-FIRE homebuilder Persimmon caused outrage after posting record pre-tax profits of more than £1bn yesterday.
The York-based firm – accused of leaving some buyers with shoddy houses full of mould, leaks and damp – made a staggering £66,265 on each property it sold.
PA:Press Association The firm has caused outrage for posting huge profits despite being accused of building substandard homes
Nearly half were offered through the Help-To-Buy scheme, which is meant to help struggling buyers by giving them interest-free loans.
Persimmon has seen its profits triple to £1.09bn since the taxpayer-funded programme was brought in six years ago.Liberal Democrat leader Vince Cable said: “The fact that Persimmon’s profits have topped £1 billion at the taxpayer’s expense is a scandal.
“The Government must act to stop Help to Buy, rather than allowing big housebuilders to pinch their profits from the public purse.”
He added: “This greed is coming at the expense of the public purse through the subsidies in help-to-buy.
“Help-to-buy is a scam, enriching developers while forcing buyers off the ladder by pushing up prices.”
Greg Beales, the campaign director of the housing charity Shelter, said: “Persimmon represents everything that is wrong with the housebuilding system.
“The firm has generated huge profits from taxpayer subsidies whilst doing very little to help solve the housing crisis we face.”
Persimmon recently sparked fury by trying to pay former chief Jeff Fairburn a staggering £110mn bonus.
GREAT BRITISH COIN HUNT Royal Mint to re-release A-Z 10p coins and they could be worth £100 WHAT A BANGER Aldi’s grim reaper sausages made with the world’s hottest chilli are back COINING IT IN Millions owed up to £500 from Aviva and LV= from forgotten ‘penny’ policies ‘I WAS LIVID’ Universal Credit staff said to leave daughter, 8, home alone so I could work MAGICAL TIPPLE M&S slashes price of its colour-changing gin to £15 a bottle SHOP AND ROLL Morrisons takes on Greggs by slashing hot sausage roll prices
Last year MPs grilled their execs over “grossly excessive” bonuses being awarded to top staff.
Customers have told of finding pipes springing leaks and windows cracking just days after they moved into their homes.
Housing minister James Brokenshire has launched a review after Persimmon’s huge gains from the Help-To-Buy scheme.

Slum landlord caught cramming 19 tenants into four-bedroom semi and dividing garage up into rooms in Wembley, North London


Please enter your comment!
Please enter your name here