Oral Answers to Questions
Debate between Lord Stunell and Stephen Mosley
Andrew Stunell
I remind the hon. Gentleman that negative equity becomes a problem if people cannot pay their mortgage. Mortgages are affordable at the moment because of the fiscal and financial policies that this coalition Government are pursuing. Interest payments on mortgages are at the lowest level as a proportion of total income since records began. I invite him to consider how many repossessions in the north of England would result if we had the bond rates of the Italians or the Spanish, and therefore how important it is for this Government to remain steadfast on their fiscal programme.
Stephen Mosley (City of Chester) (Con)
Does the Minister agree that the way to encourage a successful housing market in the north of England is to encourage the growth of sustainable, private sector-led jobs in that region?
Oral Answers to Questions
Debate between Lord Stunell and Stephen Mosley
Andrew Stunell
I certainly understand that anxiety. The whole country is anxious about the financial circumstances we face, both in the public finances and in the voluntary sector, and it will be extremely important for partners to work together, including local authorities and the voluntary sector, to overcome those difficulties in the very difficult circumstances we face.
Stephen Mosley (City of Chester) (Con)
20. What steps he is taking to reduce the administrative burden placed on local authorities by central Government.