Spending Review

Part of the debate – in the House of Lords at 5:04 pm on 15th July 2002.

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Photo of Lord McIntosh of Haringey Lord McIntosh of Haringey Deputy Chief Whip (House of Lords), HM Household, Captain of the Queen's Bodyguard of the Yeomen of the Guard (HM Household) (Deputy Chief Whip, House of Lords) 5:04 pm, 15th July 2002

My Lords, it is my turn, I think. I am of course grateful to my noble friend, who has been a distinguished chairman of the Housing Corporation for several years. With his characteristic modesty, my right honourable friend the Chancellor did not spell out what the increased housing expenditure will actually mean. I understand that it will mean virtually a doubling of the Housing Corporation's budget by 2005–06, which is an extraordinary change in the level of support for public housing.

I am sure that my noble friend and the corporation will use that money wisely to deal with the long overdue problems of repair to existing housing and to secure affordable housing for people, especially in the South East of the country, for whom it is short. The lack of such housing is affecting our productivity. That is now up to the Housing Corporation.