Speeches sourced from the Labour party’s online archive More…

Tory-led Govt’s New Homes bonus unfair and ineffective

Alison Seabeck MP, Labour’s Shadow Housing Minister, and Angela Eagle MP, Shadow Chief Secretary, today contrasted Labour’s ambitious plan to build over 25,000 homes across the country, creating thousands of jobs, through repeating the bank bonus tax, with the Tory-led Government’s unfair and ineffective “new homes bonus”, which is weighted in favour of Tory controlled councils in wealthier areas.

Alison Seabeck said:

“Since coming into power, the Tory-led government have cut the budget for new affordable housing, caused paralysis in the planning system and spent 10 months twiddling their thumbs as first time buyers have found it harder and harder to get on the housing ladder.

“Our proposal would mean thousands of new homes and jobs for people up and down the country – simply by repeating the bank bonus tax.

“But rather than pursuing a policy that would be both fair and popular, the Tory-led Government’s flagship housing policy is unfair and ineffective. This is a blunt instrument   which will direct the greatest rewards for each new home to councils in better off areas, at the expense of less well off areas – which are already suffering having been targeted with the worst of the Government’s frontloaded cuts to local authority funding.”

Angela Eagle said:

“Getting more people in work and paying taxes is the best way to get the deficit down. The Tory-led Government is cutting too deep and too fast and now the economy has stalled and unemployment is higher. There is a better way. Instead of giving the banks a tax cut this year the government should repeat Labour’s bank bonus tax and use the money raised to invest in creating over 100,000 jobs for young people and in construction and build 25,000 affordable homes.”

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