Housing (Home Loans)

Part of Class Vi – in the House of Commons at 12:00 am on 29th April 1965.

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Photo of Mr Jack Diamond Mr Jack Diamond , Gloucester 12:00 am, 29th April 1965

It is because I share many of the sentiments expressed by the right hon. Member for Kingston-upon-Thames (Mr. Boyd-Carpenter) about the desirability of home ownership, a sentiment which is shared by hon. Members on both sides of the Committee—[Hon. MEMBERS: "Oh."] I shall not get very far if I cannot make a statement like that.

It is because I share the sentiments expressed by the right hon. Member that I wanted to say how glad I was to hear him repeat those phrases, and how sorry I was that in the course of a 25-minute speech he did not suggest one thing which would help. There was not even the suspicion of a policy, no idea at all of what he would do, or what we should do, beyond requesting the resignation of my right hon. Friend. [Interruption.] I am happy to know that apart from one sugge3tion made by the hon. Member for Holland with Boston (Sir H. Butcher), right hon. and hon. Members opposite have made exactly the same proposals for dealing with this problem as they made during their 13 years of office—none.

What is it that we are supposed to be dealing with? In every speech by an hon. Member opposite the problem that has been put before us has been represented as the crisis facing the building societies and the lack of finance for mortgages. The right hon. Member for Bexley (Mr. Heath) said, "There is an acute shortage of mortgage funds. The process of changing houses is grinding to a halt." The hon. Member for Holland with Boston, referring to the present situation, said, "It has completely disrupted the building industry. It has kicked hell out of the building industry." The hon. Member for Bodmin (Mr. Bessell) said, "There is a financial crisis facing the building societies."

All those statements are grossly inaccurate, grossly exaggerated, and grossly damaging to the building societies. The building societies would be most grateful if right hon. and hon. Members opposite would stop creating a lack of confidence in the societies in this way.