Politics

A round-up of parliamentary business during the week beginning 13 May:

Chief secretary Danny Alexander was asked a number of questions on the housing market during Treasury questions this week. Subjects covered included the viability of the Help to Buy scheme and the issue of its availability to buyers of second homes; the impact on households of rising interest rates; action to increase house building; and an acknowledgement of our latest statistics showing a 20% increase in the number of first-time buyers. On stamp duty, the minister did not accept Conservative MP Christopher Chope suggestion that the tax reduces the number of transactions, saying that previous evidence suggests previous stamp duty cuts “is not all that positive”.

Answering oral questions on flood insurance, DEFRA secretary of state Owen Paterson intimated that an agreement between the government and the insurance industry was close, hence the ABI’s decision to extend their statement of principles by only a month. Mr Paterson confirmed that the required legislation would be included in the Water Bill which is to be published in the summer.

A number of MPs chose to speak about housing issues during Tuesday’s Queen’s speech debate on the cost of living. In particular, Labour MP Meg Hillier spoke about private rented housing. Labour MP Nick Raynsford suggested the government needed to focus on both the private house building sector and investment in the affordable and social housing. Labour MP Sheila Gilmore agreed the lack of affordable house building was a problem. Conservative MP Damian Collins is supportive of schemes where local authorities work with institutional investors to fund the building of homes which are then run by arm’s length management associations and councils.

The final Queen’s speech debate took place on Wednesday and focussed on economic growth.

Two former MPC members, Kate Barker and Andrew Sentence, gave evidence to the Treasury committee on the role of quantative easing. During the session, Kate Barker expressed concerns that the Help to Buy scheme could push up house prices in the short term. However, she said it was hard to make a judgement on the scheme as details on pricing are not yet known.

And the private members ballot took place this week. The names in the frame are:

1.    James Wharton
2.    Paul Blomfield
3.    Jonathan Lord
4.    Sheryll Murray
5.    Dan Byles
6.    Sir Alan Meale
7.    Andrew Gwynne
8.    Karl McCartney
9.    Sir Robert Smith
10.    Graham Evans
11.    Mike Crockart
12.    Justin Tomlinson
13.    Mark Williams
14.    Sir Malcom Bruce
15.    Caroline Spelman
16.    Andrew Selous
17.    Margot James
18.    William Cash
19.    Michael Meacher
20.    Dr Matthew Offord