Emma Reynolds MP, Labour’s Shadow Housing Minister, commenting on The National Audit Office report on the Help To Buy Equity Loan Scheme, said:

“Any help for first-time buyers struggling to get on the property ladder is to be welcomed. But rising demand for housing must be matched with rising supply to bring the cost of housing within the reach of low and middle-income earners.”

“It is disappointing that the National Audit Office is unable to say how many new homes will be built as a result of this scheme because of the Government’s failure to make an evaluation or collect information. The report also says the Government has made no assessment of how many people would have bought anyway without the scheme. For such a significant investment it is shocking that so little assessment has been made of the impact.”

“Labour is clear that you can’t deal with the cost-of-living crisis without building more homes. That’s why Labour has committed to getting 200,000 homes a year built by 2020.”