§ Mr. SpearingTo ask the Secretary of State for Transport if he will make a statement concerning the problem of negative equity on property subject to compulsory purchase orders for road improvements.
§ Mr. Norris[holding answer 17 March 1994]: The Government take very seriously the problem of negative equity and since October 1992 we have introduced measures, such as those designed to facilitate mortgage transfers between properties, to help affected home owners. We are actively considering whether, should a home which is the subject of negative equity be compulsorily acquired, any further measures are necessary and if so, what form these measures should take.
§ Mr. SpearingTo ask the Secretary of State for Transport when he expects to announce his decision concerning the construction of an underpass at the junction of Newham way and Prince Regents lane in Newham; and if prior to that date he will announce his proposals to meet the problems of negative equity in the area.
§ Mr. Norris[holding answer 17 March 1994]: The inspector's report on the public inquiry into the scheme was received earlier this month and is now being considered. I cannot yet say when a decision will be announced.
On negative equity, I refer the hon. Member to my reply to his other question which I have answered earlier today.