§ Mr. Durantasked the Secretary of State for the Environment if he will make a statement about finance for home ownership.
§ Mr. HeseltineIt is the Government's policy to encourage a substantial growth in home ownership. I am, therefore, establishing a group including people of experience from the main financial institutions to consider and review possible options on ways and means of securing an adequate and stable flow of funds in order to achieve this objective. The group will be led by my Department, and the non-Civil Service members will be Mr. J. Alan Cumming—chief general manager, Woolwich Equitable Building Society—Mr. Philip Chappell—director, Morgan Grenfell and Co.—Mr. J. D. Webster—director and assistant general manager. Sun Life Assurance Society—Mr. Michael J. Kerr—secretary and general manager, British Airways pension scheme—Mr. F. W. Crawley—Deputy chief general manager, Lloyds Bank. Mr. Tom Baron, who has recently been appointed my special housing adviser will also be a member.