Gove’s war on buy-to-lets will kill the holiday economy

The term ‘hostile environment’ was dreamt up by the Home Office to describe a policy of making migrants lives’ so difficult that they would be minded to pack up and leave the country. But it could equally well have been coined to apply to the government’s policies towards buy-to-let investors.

For years, governments of all colours sat back and did nothing as rampant house price inflation priced many young people out of the market. Then something clicked and George Osborne, together with his successors at No. 11, decided that it was not a good idea to have investors and speculators scoop up properties by the armful, outbidding aspirant owner-occupiers.

But rather than do something positive like tackle delays in the planning system, or reducing regulation and levies on house-builders, ministers trained their eyes on investors, with a mind to make their lives a misery through fiscal and regulatory hell.