THIS week, a number of departments have come together to announce a comprehensive £1bn housing package to help first-time buyers get on to the housing ladder, to help homeowners in difficulty and to support the house building industry.
Labour is determined that no hard-working people will be left alone to bear the impact of the unprecedented current squeeze in the global financial markets.
The Government's actions in these challenging times will be underpinned by Labour's co
re value of fairness.
In the last year alone, the Government has taken a number of measures including stamp duty being abolished for people buying houses through one of the existing shared ownership schemes, and local authorities having a greater say in building affordable housing.
More generally, the recent £2.7bn tax cut will give help to more than 22 million people.
Unlike the early 1990s, mortgage rates remain low, but the Labour Party doesn't underestimate the scale of the current difficulties.
That's why the £1bn Homeowners' Support Package, announced this week, will ensure we work to tackle the global crisis here in the UK.
Help will be available for first-time buyers to get on to the property ladder through a new shared equity scheme.
A one-year stamp duty for all homes costing under £175,000 means that half of all houses bought will be exempt.
The Government has also introduced a new scheme to help those in financial difficulties remain in their homes through the new mortgage rescue scheme.
The Government is bringing forward £400m of spending to deliver up to 5,500 new social rented homes, at reasonable prices over the next 18 months.
The Chancellor of the Exchequer has asked Sir James Crosby to advise on ways of improving how mortgage finance markets work, benefiting consumers and the wider economy.
David Cameron was on the Today Programme on Monday and clearly had no idea how to help home- owners or first-time buyers.
As your MP, I can promise you that this Government will do everything it can to help hard-working families through the global crisis.
I hope Gazette readers welcome this week's announcement.
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