As Britons brace for the Bank of England to announce steps to restrain the housing market this week, the No. 2 at the U.K. Treasury dismisses talk of a bubble.
“People shouldn’t get carried away with the scale of the problem,” Chief Secretary to the Treasury Danny Alexander said in an interview at Bloomberg LP’s New York headquarters yesterday. “It’s localized” in London and southeast England, he said. “Across the rest of the U.K. you have seen rises in property prices but they’re at a much more subdued level.”