Housing: Shared Ownership

Lord Kennedy of Southwark Excerpts

Tuesday 6th November 2018 Lords Chamber

[Lord Bourne of Aberystwyth]

My Lords, I thank my noble friend and pay tribute to his work on home ownership in Islington and in the other place. On the specific issue of affordable homes and social homes, the Green Paper that was out for consultation until today is taking views on how we can facilitate shared ownership. An example is staircasing, which allows people to increase their stakes by a single percent, rather than by 10%, as it is at the moment. As I have outlined, we have been taking proposals on private housing since the Autumn Budget.

[Lord Kennedy of Southwark (Lab Co-op)]

My Lords, I draw the attention of the House to my relevant registered interests. How does the Minister respond to the suggestion that shared ownership is the poor relation of Help to Buy on the Government’s priority list?