§ Mr. John Morrisasked the Secretary of State for the Environment how many persons have made use of the home purchase assistance scheme since 1978; how much has been paid out in each year; what was the maximum value for any one individual when first set up; when last it was revised; and, allowing for inflation, what is its value now in real terms.
§ Sir George YoungBenefits under the scheme began to be paid in 1980. Since then about 22,000 first-time buyers have received them. The amounts paid out each year are as follows:
£ million Financial Year Payments *Net Cost 1980–81 0.42 0.42 1981–82 3.86 3.86 1982–83 4.36 4.24 1983–84 2.95 2.48 1984–85 2.50 1.60 1985–86† 0.90 0.50 * Amounts paid out in loans and bonuses less repayments of loans and interest charges on delayed repayments. † To 30 September 1985. The maximum amount payable to any individual at the scheme's inception was £710, comprising a loan of £600 free of interest and capital repayments for five years, and a once-for-all bonus payment of £110. The level of benefits has not been revised. In the period since the scheme began retail prices have risen by 37 per cent. In terms of the prices prevailing at the time the scheme started the maximum bonus is now worth £69 and the loan £378.