Osborne moves to fix housing market

Updated
Lord Mayor's Dinner For The Bankers And Merchants Of The City of London
Lord Mayor's Dinner For The Bankers And Merchants Of The City of London

George Osborne has set out plans to fix Britain's housing market with beefed-up powers for the Bank of England and "radical" planning reforms designed to help build up to 200,000 new homes.

In his annual Mansion House speech, the Chancellor set out how the Bank's Financial Policy Committee (FPC) would be able to order restrictions on the ratio of mortgage loans compared to borrowers' incomes, or to the value of their house.

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