Emma Reynolds
Main Page: Emma Reynolds (Labour - Wolverhampton North East)
Stephen Williams
My hon. Friend is absolutely right; the full range of schemes have helped a rather large number of people to get their foot on to the housing ladder. Let us not forget the situation we inherited. There was a credit bubble, through a growth in mortgages until 2007, and lots of warnings were given, including by my right hon. Friend the Member for Twickenham (Vince Cable), who is now the Business Secretary, that the bubble would burst—it did. That was a catastrophe not only for the economy, but for a lot of people trying to get their foot on to the housing ladder. Our schemes have been a real help to people in buying their own home.
Emma Reynolds (Wolverhampton North East) (Lab)
In 2010, the Government’s then housing Minister said in his first speech on the subject that the
“age of aspiration is back”.
But under this Government we have seen home ownership falling to a 30-year low; the lowest level of house building in peacetime since the 1920s; and a record number of young people living at home with their parents. Given that this Government have broken every promise on housing over the past five years, why should anyone believe their promises for the next five years?
Stephen Williams
I like the hon. Lady very much, but she has a tendency, as do quite a few people from her intake, to wipe the slate clean from the previous five years, or the previous 13 years when she was not a Member. The fact is that house starts and completions hit rock bottom in 2008-09, when there were just 88,000 starts. Since then, starts and completions have picked up: in the last year there were 134,000 starts; and the latest information we have, for 2014, shows there are now 253,000 new planning completions for housing. So there is a strong pipeline going forward.