Where there's more of a direct line between government expenditure and the creation of a unit, as opposed to government putting money out in the economy that could be used to bid up the price of existing housing stock, you would tend to look at that as less likely to cause inflation, and maybe it could even have a salutary effect and help bring inflation down if there were more supply in the housing market. Is that a fair interpretation?
On October 30th, 2023. See this statement in context.