Topical Questions — House of Commons, 2019-07-02
Topic: Housing
Questions:   My constituent Karen Harrison-Taylor’s parents are among the tens of thousands of pensioners who are stranded in their homes due to shared appreciation mortgages saddling them with debts of up to nine times their original loan. What steps are being taken to assist those who are unfairly tied up in these schemes?; The Chancellor of the Exchequer has much good advice given to him, but is he picking up the nightmare scenarios that I am getting from senior business people in the north of England who fear that we are heading for a new global economic meltdown? They believe that that, combined with our crashing out of the European Union, would be a disaster for their businesses and for the country.; Dean’s short- bread, based in Gordon, has been encouraged by the annual investment allowance to invest in new facilities. Does my right hon. Friend agree that this policy is stimulating business to release pent-up investment and that it demonstrates the confidence of UK companies?; The west midlands has seen knife crime rise by 106% in the past five years, the average time for the Crown Prosecution Service to reach a decision has increased by 64% since 2013, and more than 2,000 police officers have been lost since austerity began in 2010. Will the Chief Secretary to the Treasury make money available to reverse 10 years of Government cuts to police services to ensure that my constituents can feel safe?; I congratulate my right hon. Friend and this Government on the net zero emissions climate change commitment. What are his plans to achieve that goal?; During the Department for International Development estimates debate yesterday, there was a clear consensus across the House that the 0.7% of GDP aid commitment should remain and, for that matter, that DFID should remain an independent Department. Will the Chancellor restate that that remains the whole of Government policy, and does he believe that it should continue to be Government policy after 24 or 25 July?; Last month, the Wandsworth food bank published its yearly report. It showed that 5,770 emergency food parcels were handed out in a year—a 76% increase over five years; that nearly half of referrals were due to problems with social security, specifically the five-week wait for universal credit; and that nearly two thirds of those supported by a food bank adviser were disabled or had a long-term health condition. The consequence of Tory austerity is that record numbers of people are relying on charity to eat. Since this is probably the Chancellor’s final oral questions in post, may I ask whether he is proud of that legacy?
Philip Hammond (Conservative, Centre-right): My hon. Friend knows that I do share his concerns on this matter. The Public Works Loan Board is there to support local authorities’ capital spending. Some of the development activities of local authorities are perfectly legitimate: for example, the regeneration of urban areas. What is not legitimate is local authorities arbitraging the low interest rates of the PWLB to buy commercial property for yield, in order to develop income-yielding property portfolios. The Treasury is looking at how we can manage that situation.