UK government says incorrect to infer 'Help to Buy' review means cancellation

LONDON (Reuters) - The British government said that it was incorrect to infer that its ‘Help to Buy’ scheme, aimed at boosting home ownership, would be cancelled after a review of the programme.

Shares of UK homebuilders slumped on Friday after trade publication Property Week said the scheme could be wound up early, citing a review into the programme to be conducted by the London School of Economics.

“The department regularly reviews the Help to Buy Equity Loan Scheme, with the last review taking place in 2015,” a spokesman from the Department for Communities and Local Government said. “To infer from this that the Help to Buy Equity Loan scheme will be cancelled is simply incorrect.”

Reporting by William James; Editing by William Schomberg