Alison Seabeck
Main Page: Alison Seabeck (Labour - Plymouth, Moor View)
Grant Shapps
The point about the new homes bonus is that it is just one element in a series of steps that we are taking to ensure that house building goes ahead. The hon. Gentleman is right to mention that it slumped to the lowest level since 1924 under the old top-down targets. The new homes bonus will ensure that £200 million is distributed today, but it does not stop there. We are also proposing build now, pay later. We are slimming down some of the many regulations that prevent house builders from getting homes built faster, and we are encouraging them to renegotiate section 106.
Grant Shapps
The hon. Lady says that it is not working, but we have already seen an increase in the number of homes planned and starting to be built.
Grant Shapps
The hon. Gentleman has got his facts wrong. HomeBuy Direct continues until 2012, so there is no question of its having come to an end. It was a funded scheme for a specific period which will come to an end at that point, so by launching another scheme that overlaps rather than replaces it, we have, I assume, achieved precisely what he would want.
Alison Seabeck (Plymouth, Moor View) (Lab)
I make my usual declaration of an indirect interest in the entry in the register for my right hon. Friend the Member for Greenwich and Woolwich (Mr Raynsford).
HomeBuy Direct was a good scheme, and considering that the Minister called it an “expensive flop” I am delighted that the Government have seen fit, albeit somewhat late in the day, to enhance it further and, in many ways, to replicate it. Can he confirm that, as the Financial Times reported, this is nothing more than his admitting that he cannot fix the mortgage market? Has he not, as my hon. Friend the Member for Chesterfield (Toby Perkins) said, just wasted a vital 10 months, leaving hundreds of thousands of first-time buyers—not tens of thousands, given the sort of scheme we are describing—with no hope under this Government of securing their own homes?[Official Report, 9 June 2011, Vol. 529, c. 5-6MC.]
Grant Shapps
I am grateful to the hon. Lady for allowing me to clear up one thing. It is worth knowing that when I said that the HomeBuy Direct scheme had been an expensive flop, it had been launched 10 months earlier and had helped just five people to secure a home. It is true that the scheme has developed over a period of time and has helped people in between, but as I said in my previous answer—I appreciate that it was given after she had written her question, but none the less it is useful to connect the two—the previous scheme does not end until 2012. We are in 2011, and we have already announced a new scheme.