Orders of the Day — Home Purchase Assistance and Housing Corporation Guarantee Bill

Part of the debate – in the House of Commons at 12:00 am on 20th February 1978.

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Photo of Mr Hugh Rossi Mr Hugh Rossi , Haringey Hornsey 12:00 am, 20th February 1978

Of course, I accept what the Minister says. He came to office when there was a world-wide recession, brought about by the oil crisis. Energy costs quadrupled in a matter of months and, of course, that had a profound effect on the economy of every industrialised country. One accepts that during that period there would have been a slump. But what is the explanation for the slump over the last year, some three years later?