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It is a matter not just of the total amount of spending, but of the profile of the spending that is being cut. My local ALMO, Wolverhampton Homes, fears that the cuts will be front-loaded and that it will be in the ludicrous position of having to lay off hundreds of people when it might be looking to hire more in a couple of years' time. It will not be able to do things in a balanced way. That would not have happened under a Labour Government; we would have supported a programme that is providing important employment in my city, as well as improving the homes for tenants, who, as my hon. Friend Mr Betts said, have been waiting far too long. Yes, this is a matter of public spending levels, but it is also a matter of the profile of the cuts, which is adding to the difficulties of ALMOs that are trying to carry out the decent homes programme.