Orders of the Day — Land and Housing

Part of the debate – in the House of Commons at 12:00 am on 14th March 1973.

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Photo of Mr Edward Short Mr Edward Short , Newcastle upon Tyne Central 12:00 am, 14th March 1973

Will the hon. Gentleman allow me to finish my point? He was talking about political hacks a moment ago. Perhaps he will have the courtesy to wait until I have finished the point which I am making. A free market is regulated by demand, and demand is determined by the distribution of income. It will be generally agreed that one of the defects in our society is the maldistribution of incomes. My right hon. and hon. Friends believe that the distribution of housing must be regulated by need and not by demand which is derived from income. The property market has ceased to be a mechanism for allocating scarce resources to meet need. It has become a mere scramble for profit for those who happen to have a stake in it.