Oral Answers to Questions
Debate between David Wright and Grant Shapps
Grant Shapps
The hon. Gentleman is right to draw attention to a serious problem involving both long-term care and a reduction in people’s ability to buy homes. That has happened because house prices tripled over the 10 years following 1997. Eight out of 10 first-time buyers are buying their homes through the bank of mum and dad, but today those without that ability will be pleased to hear about our Firstbuy scheme, which will help more than 10,000 people in England to get a foot on the housing ladder for the first time.
David Wright (Telford) (Lab)
8. What recent discussions he has had with representatives of fire and rescue services on the effects of reductions in their budgets; and if he will make a statement.
David Wright (Telford) (Lab)
The 1% increase in mortgage activity over the past 12 months is largely focused on remortgages. Why is that?
Grant Shapps
Because there was an enormous bank crash due to the fact that the debt in the British economy got out of all possible control, with Labour spending money that this country simply did not have. We are in the process of unravelling that mess. I am pleased to report to the hon. Gentleman that for the first time for a very long time average lending to first-time buyers has dropped below 6%.
Oral Answers to Questions
Debate between David Wright and Grant Shapps
David Wright (Telford) (Lab)
What discussions has the Minister held with landlord organisations about possible changes to the capital gains tax regime as it relates to private landlords?
Grant Shapps
That is a matter for the Treasury, but the hon. Gentleman will not have to wait long because the emergency Budget, which has been made necessary by the previous Government’s profligacy, will be on 22 June.