§ Mr. BattleTo ask the Secretary of State for the Environment what additional resources he is making available to local authorities to enable them to respond to the growth in mortgage arrears and reprossessions as revealed in recent Bank of England-sponsored research.
§ Mr. YeoThe Government have already helped all borrowers by cutting base rates by 4 per cent. in the last nine months, reducing the cost of the average mortgage by over £60 a month. In addition, income support amounting to over £350 million was given to some borrowers in 1989–90 to enable them to maintain interest payments. This assistance remains available at a higher level this year. Local authorities can help by debt counselling and in some cases by offering shared ownership schemes in cooperation with housing associations.