This week in the House of Commons I questioned the Government about the ‘Leeds Reforms’.
This was what I said:
“Will the Minister provide reassurance, given that the Bank of England has repeatedly warned that loosening mortgage lending standards and allowing more people to borrow larger sums relative to their income can push up house prices and increase financial instability? I appreciate that these are not the same deregulations that took place before the 2008 crash, but given the state of the global economy, surely she will understand that many of us on the Government Benches are cautious about deregulating at a time of such instability. I understand that we want to get more people on the housing ladder and to increase growth, but there is a risk. I wonder whether that risk has been duly appreciated.”