§ Mr. Evennettasked the Secretary of State for the Environment whether he has any plans to introduce further measures aimed at increasing owner-occupation; and if he will make a statement.
§ Sir George YoungWe will continue with our successful policies to enable as many people as possible to own their own homes. Since 1979, the number of owner-occupiers in Great Britain has increased by more than 1½ million. Local authorities, new towns and housing associations have sold 800,000 dwellings, including nearly 750,000 to sitting tenants. The right-to-buy provisions of the 1980 Housing Act were extended by the 1984 Housing and Building Control Act and we are keeping the working of the Acts under review. On taxation, the increases we have made in the amount eligible for mortgage interest tax relief and the stamp duty limits mean that the majority of first-time buyers continue to obtain tax relief on the full amount of the mortgage and now pay no stamp duty on the purchase of their first home. We have published for consultation proposals to strengthen building societies' powers. We are considering the proposals of the Farrand committee on conveyancing and other ways of making home purchase easier and cheaper; the Administration of Justice Bill will end the solicitors' conveyancing monopoly by providing for licensed conveyancers to provide these services, so increasing competition without loss of protection for consumers.