Housing Reform

Lord Hanson of Flint Excerpts

Monday 21st November 2011 Commons Chamber

[Grant Shapps]

My hon. Friend is right, and today’s housing strategy is very much about putting the family front and centre. We have already done a number of things, such as scrapping the density targets, which led to too many flats and not enough family homes. Today’s announcement, and in particular the mortgage indemnity, will be widely welcomed by families across the country.

[Mr David Hanson (Delyn) (Lab)]

Hansard will show that the Minister was clear that this is new money, rather than recycled money. If that is the case, will he say what the consequential is for Wales, Scotland and Northern Ireland, otherwise we might believe that the money is perhaps not new but recycled? Secondly, are builders in the indemnity scheme building simply in England rather than nationally?

[Grant Shapps]

On the first point, the Barnett consequential formula will apply, which means £400 million for England. On the second point, there will now be discussions with the devolved Administrations to see whether they are interested in the indemnity scheme.