£690m Should Be For Building Affordable Homes Not Fuelling Prices

9.22.00am GMT Wed 24th Mar 2004

Commenting on the second re-launch of the Government's "Starter Homes Initiative", Liberal Democrat London Mayoral candidate, Simon Hughes, said: "The re-re-launch of this scheme shows how badly this policy has failed."

"Rather than fuel the already overvalued housing market with more cash, the £690 million should be used to build more affordable homes."

"This would ensure there are longer-term solutions for longer terms problems, rather than pushing house prices even further out of the reach of first time buyers."

"Subsidising even more housing demand, when what we need is more houses, is truly the economics of the madhouse."