Oral Answers to Questions

Debate between Jeremy Lefroy and Mark Prisk

Monday 17th September 2012 Commons Chamber

[Jeremy Lefroy (Stafford) (Con)]

5. What steps his Department is taking to support first-time buyers.

[The Minister for Housing (Mr Mark Prisk)]

The Government strongly support home ownership. That is why we are now investing an extra £280 million in the Firstbuy scheme. That will help another 16,500 first-time buyers, and is in addition to our Newbuy programme and the reinvigorated right to buy.

[Jeremy Lefroy]

I welcome that response. What advice can the Minister give to my constituents in Stafford who are looking to buy their first home about accessing cheaper finance through the funding for lending scheme?

[Mr Prisk]

My hon. Friend is absolutely right that we need to increase the availability of funding, and that is what the funding for lending scheme does, in terms of both availability and cost. We all need to encourage people to look again at the mortgage market, both through that scheme and through the Firstbuy scheme and the new home programmes. This is real help for home buyers.

Oral Answers to Questions

Debate between Jeremy Lefroy and Mark Prisk

Thursday 8th July 2010 Commons Chamber

[Jeremy Lefroy (Stafford) (Con)]

18. What recent steps he has taken to increase access to finance for small businesses.

[The Minister of State, Department for Business, Innovation and Skills (Mr Mark Prisk)]

I refer my hon. Friend to the answer my right hon. Friend the Secretary of State gave to the hon. Member for Edinburgh West (Mike Crockart).

[Jeremy Lefroy]

Many small businesses, including those in my constituency, face much higher facility fees, even when they can get access to finance. Does the Minister agree that banks should not use the current situation to hike up fees, and will he take this up with them?

[Mr Prisk]

Indeed, we already are. I want to stress and put clearly on the record the fact that we are not willing simply to allow the situation to continue. Small businesses are crucial to our economy. We want to ensure that banks understand that. My right hon. Friend the Secretary of State and I meet regularly with the banks. If we find that they are clearly pushing such charges up, we will make them come to see us in the Department and ensure that they understand that we are not happy and that we will act to ensure that they change their behaviour.