Housing: Market Stability Debate

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Lord Desai

Main Page: Lord Desai (Crossbench - Life peer)

Housing: Market Stability

Lord Desai Excerpts
Monday 23rd May 2011

(12 years, 11 months ago)

Lords Chamber
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Baroness Hanham Portrait Baroness Hanham
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My Lords, what the banks do is up to the banks. We will be very pleased when there is a release of money for mortgages to help.

Lord Desai Portrait Lord Desai
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Do the Government not agree that it is time we weaned people off the desire to buy houses and to have a good rental sector, so that people can rent safely, with good tenure, an affordable house?

Baroness Hanham Portrait Baroness Hanham
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My Lords, I would agree with that and I do not think that this Government are doing anything to stop renting in any way. We have encouraged the private rented sector, which is a very important part of housing in this country. As noble Lords know, we are introducing the affordable rent for housing, which will also assist people. We have already put £6.5 billion into the development of new affordable homes over the CSR review period. The Government are doing a lot to ensure that more housing will be made available and coming on stream.