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Housing and Planning Bill

Part of the debate – in the House of Commons at 5:34 pm on 2nd November 2015.

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Photo of Nick Hurd Nick Hurd Conservative, Ruislip, Northwood and Pinner 5:34 pm, 2nd November 2015

I do not have any time to give way to my hon. Friend.

We should be pushing them to do better than one to one; we should be pushing and encouraging them to look at two for one.

I need reassurance on how money will be recycled from the sale of high-value council assets. I take great encouragement that the Government have overseen an escalation in the replacement ratios that had fallen and lagged so shamefully under Labour. There is still a question, however, about whether there is enough money to go around, given that most properties will be in London, to fund what we want to do: the discounts on right to buy, brownfield regeneration, and the replacement of the housing stock on an ambitious level. My original position was the same as the current Mayor of London, which is to argue for a ring-fencing of proceeds. I recognise, however, that that will raise substantial question marks about the integrity and validity of the policy. I support wholeheartedly the change, put forward by my hon. Friend the Member for Richmond Park, to make it clearer that the Bill will do what is needed to meet the big political challenge in London: to increase the supply of affordable homes and make this city the place that we continue to love to live in and work in.