Article: Brown's plan wins no fans Building societies look to merge as experts turn on Labour's housing plan, writes Edmund Conway

It didn't take long for the economists, industry experts and campaigners to declare Gordon Brown's housing rescue plan a major disappointment. While the Nationwide, Britain's largest building society was secretly plotting its own response to the collapse in the market - it is in advanced merger talks with the Derbyshire and one other smaller mutual - the Prime Minister's measures aimed at supporting homes vulnerable to the slump were described as "piddling" by some commentators and his stamp duty holiday derided as insignificant and ineffectual.

But it wasn't until 48 hours later on Thursday that Halifax delivered the final stinging punchline, house prices fell by some 1.8 per cent in ...

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