Oral question asked in the House of Lords, by Baroness Scott of Needham Market (Liberal Democrat). It was answered on Thursday, 14 May 2009.

Housing: Property Purchase

Question: My Lords, does the Minister agree that the current crisis in the housing market presents a real opportunity to get away from the emphasis on property ownership and back towards providing homes for people? In that context, would this money not have been better spent on providing socially rented accommodation?

Answer: My Lords, the challenge that the Government have is to meet the diverse demands of the housing market. The noble Baroness is absolutely right: it is not just about home ownership but also about social rented homes. That is why we made £200 million available for unsold stock to be brought forward from developers for the housing associations. We have given £100 million to local authorities to stimulate their own housebuilding programmes. We have to meet diverse needs, including those of aspiring home owners. We need to reduce waiting lists for those who need help in accessing social rented housing. We also need to help people who are in difficulties with their mortgages, which is why we have mortgage rescue and mortgage support schemes. We are trying to do all that while stimulating the housebuilding industry.

Secondary information