UK Economy (London)

Part of the debate – in Westminster Hall at 2:26 pm on 10th March 2004.

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Photo of Karen Buck Karen Buck Labour, Regent's Park and Kensington North 2:26 pm, 10th March 2004

My hon. Friend is right. There are two issues. One is to make key worker housing affordable. I have experience of shared ownership projects costing £300,000. The second issue is to be rigorous in ensuring that when we speak about affordable housing, we mean not only buying homes. There is and will remain a substantial minority of people who require affordable housing to rent. That is where there is the greatest squeeze.

I hope that, when the Chancellor comes to consider the next spending review over the long term, not only is the argument for the capital infrastructure made, but we take urgent action to tackle the barriers that result in London having both a flourishing labour market and a very substantial minority of its population locked out of the available jobs.