Alison Seabeck MP, Labour's Shadow Housing Minister, said in response to figures released today by the Financial Services Authority, which show an increase in repossessions of 17% in the first quarter of 2011, after falling each quarter last year:
“The sharp rise in repossession figures is bad news for families.
“Last year repossessions fell quarter on quarter but with the economic recovery stalled, government support for families struggling to make their mortgage repayments cut and more and more people having to claim job-seekers’ allowance, repossessions are starting to rise again.
“The government is letting people down on housing - repossessions are up, homelessness is up and rough sleeping is starting to rise again. We’re risking a vicious circle where by cutting too far and too fast - hitting families and costing jobs - we end up with more people on benefits and fewer in work paying taxes making it harder to get the deficit down. People will rightly be asking where is their plan B?”