Andrew Rosindell – 2016 Parliamentary Question to the HM Treasury
The below Parliamentary question was asked by Andrew Rosindell on 2016-06-28.
To ask Mr Chancellor of the Exchequer, what steps he has taken to ensure stability in the housing market and increase the confidence of property developers since the EU referendum of 23 June 2016.
Greg Hands
Ministers have met with house builders and industry leaders since the Referendum result to ensure stability.
Britain’s economy is fundamentally strong. Markets have been volatile, but they have continued to function effectively. The Treasury, the Bank of England and the FCA are watching markets, including the housing market, extremely closely.
Action by the government over the last seven years has substantially strengthened the resilience of the financial system. Capital requirements for the largest banks are now ten times higher than before the crisis. Yesterday (5th July) the Chancellor announced that the Bank of England will use the new powers given to them by Government to help boost the lending capacity of the banks to our economy. UK’s main lenders have agreed to make this extra capital available to support lending to UK businesses and households in this challenging time.
Government remains committed to boosting housing supply, including by delivering the most ambitious affordable house building programme since the 1970’s.
