§ 78. Mr. Lewisasked the Chancellor of the Exchequer whether he will take all necessary steps to promote individual ownership of property on the widest possible scale and to arrange his fiscal and other policies so as to encourage persons of modest means to acquire such property; whether, as a means towards this end, he will reduce interest rates to those 10W obtaining in 1951 and make facilities available for house purchasers to purchase houses at low rates of interest as was the case up to 1951; and whether he will make a statement.
Mr. AmoryI agree with the aims which the hon. Member advocates and have recently given practical encouragement to house ownership by abolishing Stamp Duty on the purchase of less expensive houses. Rates of interest in this field cannot, of course, be insulated from the level of interest rates generally.