Call for Labour to help first-timers

Lord Norman Lamont, the former chancellor who presided over the last recession, has called for first-time buyers to be helped with government loans to spark a revival in the housing market.

Lord Lamont, who was chancellor under the Conservatives between 1990 and 1993, says a recovery in the wider economy will start when the housing market begins to picks up again.

He told attendees at Abbey’s key accounts conference in Sunningdale last week that he believes government loans for first-time buyers would help trigger this.

He says: “I would be in favour of the government making loans to first-time buyers because I don’t think we’ll see a recovery until the housing market turns around.”