Autumn Statement

Stephen Metcalfe Excerpts

Wednesday 5th December 2012 Commons Chamber

[Mr Osborne]

House building was at an all-time low under the Labour Government—the lowest, I think, since the 1920s or 1930s. That is what had happened. Of course, things such as problems in the mortgage market were created by the banking crisis and the financial crisis. The banking crisis happened, by the way, when the right hon. Member for Morley and Outwood (Ed Balls) was the City Minister. The funding for lending scheme is bringing mortgage costs down. The Firstbuy scheme helps with shared equity, and the new buy scheme is helping people who cannot afford their first deposit, so we have those schemes out there, helping to repair problems in the financial markets. We are also committing money for additional affordable homes and we are providing guarantees to social landlords to build not just social homes, but homes for the private rented sector. We are dealing with the problems that occurred when the hon. Gentleman’s party was in office.

[Stephen Metcalfe (South Basildon and East Thurrock) (Con)]

I congratulate my right hon. Friend on his statement, and I would particularly like to welcome the fund that will allow good schools to expand. Can he tell us when that might be in place, as the need is more pressing in some areas than in others, particularly around Basildon, where I would like to see the Lee Chapel primary school expand rapidly?

[Mr Osborne]

My hon. Friend makes a powerful case for Basildon, its schools and the particular school he mentioned. I will make sure that the Education Secretary hears the argument he makes. The money is available over the next two years.