John Redwood’s intervention in the Finance (No2) Bill, 17 April

Mr John Redwood (Wokingham) (Con): Does the shadow Minister agree that since the crash of 2008 there has been a chronic shortage of mortgage finance and of new homes being built? Do we not need some way around the problem that RBS and HBOS are so damaged that they cannot supply the normal amount of mortgage credit?

Chris Leslie: The Opposition are not opposed to schemes that are well targeted and well designed to increase affordability for people who want to buy their own home, and we want people to get that first step on the housing ladder, but the way in which the Government are going about these things is shocking.

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One Comment

  1. rd
    Posted April 19, 2013 at 9:22 pm | Permalink

    No No NO! This dangerous madness! You are subsiding mortgages at the tax payers expense… you are going to create a housing bubble like in the US. We know the consequences. The taxpayers again will left to pick up the pieces when the bubble bursts. I suggest you speak to your Parliamentary colleague Steve Baker MP who I should imagine will agree with me and be able to explain the dangers better than I can here.

  • About John Redwood

    John Redwood won a free place at Kent College, Canterbury, and graduated from Magdalen College Oxford. He is a Distinguished fellow of All Souls, Oxford. A businessman by background, he has set up an investment management business, was both executive and non executive chairman of a quoted industrial PLC, and chaired a manufacturing company with factories in Birmingham, Chicago, India and China. He is the MP for Wokingham, first elected in 1987.

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