All 1 Michelle Donelan contributions to the Finance Act 2018

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Wed 21st Feb 2018
Finance (No. 2) Bill
Commons Chamber

3rd reading: House of Commons & Report stage: House of Commons

Finance (No. 2) Bill Debate

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Department: HM Treasury

Finance (No. 2) Bill

Michelle Donelan Excerpts
3rd reading: House of Commons & Report stage: House of Commons
Wednesday 21st February 2018

(6 years, 8 months ago)

Commons Chamber
Read Full debate Finance Act 2018 Read Hansard Text Read Debate Ministerial Extracts Amendment Paper: Consideration of Bill Amendments as at 21 February 2018 - (21 Feb 2018)
Anneliese Dodds Portrait Anneliese Dodds
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I am aware of what Mr Johnson said, but I think he has fallen into the trap of looking only at the impact of the change on an individual buyer and forgetting that it will have an impact on the housing market, particularly in areas where there is strong supply and strong demand, and where such a change is likely to push up prices. I agree with Mr Johnson on many things, but in this case, unfortunately, the context has been missed, and it is important that we bear it in mind.

Michelle Donelan Portrait Michelle Donelan (Chippenham) (Con)
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The evidence suggests that house prices are not increasing—in fact, the Royal Institution of Chartered Surveyors has echoed the point, saying that although there was scaremongering, the evidence suggests that prices are not rising.

Anneliese Dodds Portrait Anneliese Dodds
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I am sure the hon. Lady is well versed in the subject, but when it comes to the cost for first-time buyers, there has been an increase. That assertion is supported by the evidence, and that is exactly what we are concerned about. We need to take action. The Government often say they want to help first-time buyers, and I think it is important that we take them at their word. We should also look at what the OBR said in its assessment of the policy. Again, I go back to whether the Government received any advice about the likely impact of their policy. It is disappointing that we have not had any clarity on that matter.