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Peter Black and South Wales West Liberal DemocratsRepresenting Aberavon, Bridgend, Gower, Neath, Ogmore, Port Talbot, and Swansea |
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Meeting the Housing Challenge: Building a Consensus for Action
January 17, 2012 3:47 PM
By Peter Black
By Peter Black
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Minister, we have had a number of statements now on the proposed housing Bill, so much so that, when it is published, I expect that it will be named after the Manic Street Preachers album, |
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We also have a situation whereby first-time buyers in particular cannot get mortgages to buy homes and, as a result, their housing needs are not being met. That is partly because of the financial situation, but also because this Government does not seem to have a clear policy on the provision of intermediate housing with slightly higher rents that those people would be able to afford, and which would assist greatly in relieving the pressure on housing supply that we face at the moment. In the spirit of the constructive relationship that you have invited, Minister, I ask whether you are looking at a mortgage guarantee scheme for first-time buyers along the lines of the scheme introduced in England? If you prefer not to make comparisons with England, how about the mortgage schemes that have been introduced by a number of local authorities in Wales, notably Conwy and Powys, with a number of other councils considering similar schemes? Have you considered a pan-Wales scheme to help first-time buyers? |
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In terms of the finance available, I take on board the many comments that you made about the lack of capital. I note that Welsh housing budgets are being cut by £120 million over the period of the comprehensive spending review, and obviously we can have a debate as to why that is, but clearly there is a need to get more capital money into housing. We have raised with you on a number of occasions the need for a bond scheme to raise private money for housing in the form of a community finance initiative. That could be done in a mutual way, as you have already indicated. I understand that registered social landlords have put together a package worth around £75 million, but of course no bond issue worth its name could really be entered into for less than £100 million, because you do not get the economies of scale. What is the Welsh Government doing to bring that bond issue up to £100 million or more, which would make it worth while and inject a substantial sum of money into housing, as well as making additional money-the extra £25 million or more-available for public services? If the Welsh Government were able to provide revenue streams, it could happen. It might require a special purpose vehicle, but I do not see any work going on publicly to deliver that. |
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You will be aware that registered social landlords have borrowing powers that can be used for the wider community benefit, and that those borrowing powers can be used to get a greater bang for your buck, if you like, in terms of investment in housing and community facilities. What work has been undertaken by the Welsh Government to explore that particular avenue? |
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Leanne Wood mentioned targets; when will we see targets for social housing and intermediate housing that are both meaningful and deliverable, so that providers have something to work to? Presiding Officer, I have a list that I have only just started, but I will conclude here, and I would be grateful if the Minister could start by addressing this point. I look forward to the constructive dialogue that the Minister has promised. |
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