Jack Dromey MP, Labour's Shadow Housing Minister, commenting on official statistics released today on the Government’s NewBuy scheme:
"This shows the vast gap between the Government’s rhetoric and the reality for those who want to realise their dreams of owning their own home. The Prime Minister and then Housing Minister Grant Shapps claimed NewBuy would help 100,000 people buy their own home. Today’s stats show they have only achieved a quarter of one percent of their own target in the first six months, just 250 homes.
"This out of touch Government hyped up NewBuy, raising the hopes of families all around the country. But the truth is this scheme does nothing to reverse the Government’s failed housing and economic policies which have led us into the longest double-dip recession since the Second World War and the biggest housing crisis in a generation.
"The Government needs to drop the hype and change course by implementing a real plan for homes, jobs and growth. If it fails to do so, at this rate, it will take 200 years for NewBuy to help 100,000 homebuyers buy their own home."