HC Deb 26 March 1996 vol 274 cc821-2
7. Mr. Faulds

To ask the Secretary of State for the Environment what measures his Department is taking to reduce the number of home owners who will (a) be unable to move house as a result of negative equity and (b) lose their homes through repossession in 1996. [20942]

Mr. Gummer

Mortgage rates are the lowest for 30 years. Average mortgage payments are more than £150 a month lower than in October 1990. Many home owners are about to be notified of a further cut in mortgage payments. House prices have risen at a sustainable rate for the past seven consecutive months. That is all due to the success of the Government's economic policies which are meeting effectively the needs of home owners.

Mr. Faulds

In view of the fact that 1,000 families a week are losing their homes through repossession, why is there nothing in the Housing Bill to help home owners who are trapped in negative equity or facing repossession?

Mr. Gummer

I would take the hon. Gentleman's comment more seriously had the speech by his right hon. Friend the Leader of the Opposition made any proposals on those matters. The hon. Gentleman rarely attends Environment questions, but if he did so more regularly, he would see that every creative idea about home ownership comes from the Government, and every attempt to stop it comes from the Opposition.

Mr. John Marshall

Does my right hon. Friend agree that one of the scandals for those facing housing problems in London is that thousands of empty council houses are owned by Labour councils, who are indifferent to the fate of council taxpayers, local tenants and those seeking somewhere to live?

Mr. Gummer

My hon. Friend does not mention also the fact that the Labour party has opposed every change to help home ownership since the Government have been in power. Had Labour been in power, there would have been no right to buy, so the 200 families a day who are now buying their own homes through that and similar schemes would not be able to do so. Labour Members dare not speak on home ownership issues because they have no answers.