Management of the Economy and Ministerial Severance Payments

Chris Elmore Excerpts

Tuesday 15th November 2022 Commons Chamber

[Chris Elmore (Ogmore) (Lab)]

My hon. Friend is making a passionate speech. On the damage done, I raised with the previous Welsh Secretary—we have had a few of those in the past few months—the issues that my constituent faces. They bought a house five years ago, and they have now come out of a five-year fixed mortgage and their mortgage has gone up by £276 a month. The solution for my constituent is to sell their home, so not only are this Conservative Government stopping people buying homes, but in some case people are having to sell their home and go back into the private rented sector or to a smaller house. Does my hon. Friend agree that that is the damage this Conservative Government are doing?

[Lisa Nandy]

My hon. Friend is absolutely right. The truth is that before the former Prime Minister and Chancellor crashed the economy, we had a housing crisis in this country. We saw social housing stock being lost faster than it was being built, with rents rising in the private rented sector and a real squeeze on people there. The Government promised to do something about it, but we have had three years of them dragging their feet. We have had more Secretaries of State than we have had promises, and we have had a lot of those, but nothing has been delivered. I will say more about that in a moment.

Given all of that, I genuinely ask Government Members: where is the Housing Secretary? Why has he not met banks and lenders in the middle of this mortgage crisis? Any Government worth their salt would be moving heaven and earth to help families and protect vulnerable people as we head into what promises to be the harshest winter that many families can remember. The crisis is of such magnitude that we accept that there is no magic-bullet solution, but any Government worth their salt would do everything in their power and pull every lever to make a difference.

This afternoon, the shadow Chancellor—my hon. Friend the Member for Leeds West (Rachel Reeves)—and I will be talking to lenders about what can be done. Why is the Housing Secretary not doing the same? He has a reputation for roving across Government as Mr Fix-It. This is a major crisis in his brief; why is he not doing everything he can to fix it?