Labour shelves plan to restrict foreigners buying new flats
AI Summary
Labour has decided to put on hold its proposal to restrict foreigners from purchasing new flats, downgrading its manifesto pledge to tackle the issue of entire developments being bought out by international investors. This change comes amid concerns over the potential economic and political ramifications of such strict regulations. The decision underscores the complexities involved in housing policies and the balancing act between addressing domestic housing needs and maintaining international investment flows.
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