Orders of the Day — Poverty

Part of the debate – in the House of Commons at 12:00 am on 6 November 1972.

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Photo of Mr Bruce Douglas-Mann Mr Bruce Douglas-Mann , Kensington North 12:00, 6 November 1972

My Question seeks to discover by how much the value of land in Britain has increased in the last two years. I do not know the answer to that question, but I know that there are about 7½ million owner-occupiers in the country. Since a house worth £5,000 has increased in value on average by 40 per cent. in the last two years, this means that everybody who owns a house worth even £5,000 has gained £2,000. That sort of sum spread over 7½ million people amounts to a figure of £15,000 million, which is about half the total income from wages and salaries last year.