In terms of making good use of our social housing stock, I am sure that the hon. Lady will support us in the votes later today, if there are any, on high-income social tenants. If she is that interested in delivering more housing in this country, however, I am surprised that this is the first time she has engaged directly with the Bill. The hon. Member for Sheffield South East (Mr Betts), who mentioned the PAC report, asked about the data behind the policy. As I outlined at the end of last week, there are 16 million pieces of data impacting on this policy.
The Minister has made a lot of “affordable”. Can he define it? Is it right that an affordable starter home in London will be round about £450,000?
The right hon. Gentleman might like to go back to look at the evidence given to the Committee that scrutinised the Bill or at the Bill itself. The £450,000 is a cap. He needs to look at the average price a first-time buyer pays for a home in this country, which is £181,000. If we then include a 20% discount and allow the purchase with a deposit of just 5%, that really changes affordability. I hope the right hon. Gentleman will support the chance for more Londoners to get on the housing ladder, while understanding equally that this is not the only thing we are doing to promote affordable home ownership. There is a £4.7 billion scheme out there now for shared ownership, which also plays an important part, particularly in places such as London.
My hon. Friend makes a good point. When I visited him and met constituents, developers and the local authority, I saw a really good example of an area that wants to deliver the right type of housing locally by understanding its local needs. Whether that involves working with the Government to bid for some of the £4.7 billion in the shared ownership fund or the £1.2 billion for starter homes on brownfield sites—
I will just answer the previous intervention before I take one from the right hon. Gentleman.
Local authorities could also work with authorities around the income from higher-value homes that they may be able to use to deliver elsewhere. It is important to get that flexibility and to understand that different authorities of different parties want it.
I now turn to amendments 54, 55, 57 and 58, all of which I disagree with. Amendment 54 would make our policy to implement fairer social rents voluntary. It is, as my noble Friend Baroness Williams said in the other place, a blatant denial of the primacy of this House. Local authorities can already operate the policy on a voluntary basis, but we are not aware that any have done so. To put it simply, it is a wrecking amendment and this House should treat it as such.
The policy must also apply consistently, as it would not be right for tenants in certain areas to face possible rent increases while tenants in a neighbouring area do not. The amendment completely undermines the Government’s aim of putting in place a consistent approach and of using the funds raised to reduce the national deficit, which we inherited from the Labour party. It would substantially reduce the revenue that the policy would generate.