Sarah Coombes
Main Page: Sarah Coombes (Labour - West Bromwich)Department Debates - View all Sarah Coombes's debates with the HM Treasury
(1 day, 10 hours ago)
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Sarah Coombes (West Bromwich) (Lab)
We have heard a lot about young people today, but in my constituency, the thing that young people really want is the chance to own their own home. For years, they have been locked out of that because of sky-high mortgage rates thanks to the policies of the Conservative party. I welcome the six interest rate cuts that this Government have overseen. Will the Chancellor elaborate on what more we are doing to help young people in West Brom get on the housing ladder and to bring down the cost of borrowing?
Rachel Reeves
I know that families and young people in West Bromwich and across the country want to get on the housing ladder. That is why we have committed to build 1.5 million new homes in this Parliament and why we have returned stability to the economy, allowing the Bank of England to cut interest rates six times. It is also why, in my Mansion House speeches, I have announced regulatory reforms to make it easier for banks and, crucially, building societies to lend more to first-time buyers, and they are doing just that.