Repossessions and the Housing Market

Part of Opposition Day — [9th Allotted Day] – in the House of Commons at 2:05 pm on 2 April 2008.

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Photo of Christopher Huhne Christopher Huhne Shadow Secretary of State for Home Affairs, Home Affairs, Shadow Secretary of State for Justice & Lord Chancellor, Ministry of Justice 2:05, 2 April 2008

The key point is that we are talking about a leading indicator. Orders are a leading indicator of what will happen. The Minister insists on talking about actual repossessions, which are merely a backward indicator. I hope that Ministers can distinguish between leading and lagging indicators when they are attempting to manage the economy; it would be very worrying if they could not.