Monday, 6 April 2009

The new HIP fines are rather stupid

Not only are the Home Information Packs unnecessary red tape and a colossal joke, but the government is introducing £200 fines for those who do not produce one.

If I am willing to sell you a house without a HIP, and you are willing to buy one without a HIP, why should the government say I must buy a HIP? You cannot alleviate excess demand by shifting supply inwards even further.

And HIPs cost anything from £350 to £500 to produce, while fines will be £200. Get the picture?

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