Oral Answers to Questions

Toby Perkins Excerpts

Tuesday 15th November 2022 Commons Chamber

[John Glen]

Absolutely, I will. Of course, it is not just about the cash settlement; it is about the interaction with other pots of money that are being spent, particularly in the health service, which is at the top of my mind and the Chancellor’s mind as we concentrate on what to do on Thursday.

[Mr Toby Perkins (Chesterfield) (Lab)]

8. What recent assessment he has made of the affordability of housing for first-time buyers.

[The Economic Secretary to the Treasury (Andrew Griffith)]

The Government are committed to helping as many first-time buyers on to the housing ladder as possible. We are investing £11.5 billion in building more of the affordable homes that the country needs. First-time buyers can access first-time buyer’s relief for stamp duty land tax, which means that 90% of first-time buyers need pay no stamp duty at all.

[Mr Perkins]

For so many younger people, even those on really good wages, the idea of owning their own house is now a pipe dream. We have 1 million more people in private rented accommodation and, since 2010, 800,000 fewer under-45 households own their own home. What is it about 12 years of Conservative government that has been so brutal for young people with ambitions to own their own home?

[Andrew Griffith]

The Government are very conscious and very supportive of people’s desire to own their own home, which is why we have made so many interventions on affordability. Underlying that is the strength of the economy, which offers great employment prospects for those who seek to work hard, to save and, ultimately, to purchase their own home. We are on their side.