Clause 35
Housing and Regeneration Bill
9:30 am
Iain Wright (Parliamentary Under-Secretary, Department for Communities and Local Government; Hartlepool, Labour)
I take my right hon. Friend’s point, but what we suggest is similar to the low-cost home ownership schemes now provided under contract with the Housing Corporation.
My right hon. Friend spoke eloquently about rigidity and the fact that we want to provide mixed communities. I agree with him. The regime proposed under clause 35 provides the corporation—in future, the agency—with the flexibility to invest as it sees fit while ensuring that purchasers are protected. My right hon. Friend makes a strong case, but I should like to reflect on the matter to see whether we can address those concerns. What he said about the sub-prime market was valid, and I shall see whether we can do anything to reassure him at a later stage.