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| Version 2 | Version 3 |
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| Ministers plan repossession help | Ministers plan repossession help |
| (20 minutes later) | |
| Home repossessions should be only a "last resort" and banks should be doing more to help homeowners, the government has said. | Home repossessions should be only a "last resort" and banks should be doing more to help homeowners, the government has said. |
| Chief Secretary to the Treasury Yvette Cooper told Sky News she wanted "stronger rules across the board" to make sure homeowners were supported. | Chief Secretary to the Treasury Yvette Cooper told Sky News she wanted "stronger rules across the board" to make sure homeowners were supported. |
| Meanwhile the chancellor has signalled he will use public spending to boost job-creating areas of the economy. | Meanwhile the chancellor has signalled he will use public spending to boost job-creating areas of the economy. |
| There are predictions that this year repossessions will rise by 26,200. | There are predictions that this year repossessions will rise by 26,200. |
| The Council of Mortgage Lenders predicts that 45,000 properties will be repossessed this year. | The Council of Mortgage Lenders predicts that 45,000 properties will be repossessed this year. |
| 'Repayment holiday' | 'Repayment holiday' |
| Ms Cooper said she wanted a "more responsible" approach to repossessions and the banks should adopt a more lenient approach. | Ms Cooper said she wanted a "more responsible" approach to repossessions and the banks should adopt a more lenient approach. |
| She told Sky News there were other things a bank could do. | She told Sky News there were other things a bank could do. |
| "For example working with lenders to re-profile the payments, or maybe give people a repayment holiday so they are just paying interest, or other kinds of mortgage rescue schemes where maybe a share of the home is bought back by the bank or a housing association too. | "For example working with lenders to re-profile the payments, or maybe give people a repayment holiday so they are just paying interest, or other kinds of mortgage rescue schemes where maybe a share of the home is bought back by the bank or a housing association too. |
| "So there are a lot of things we can do to keep people in their homes when they are under pressure. | "So there are a lot of things we can do to keep people in their homes when they are under pressure. |
| "Some banks are doing that... but also I'm worried about some of the anecdotal reports we have had where this is not happening. | "Some banks are doing that... but also I'm worried about some of the anecdotal reports we have had where this is not happening. |
| Repossessions are predicted to rise | |
| "That's why what we want to do is look at stronger rules across the board, that all the banks will follow, to make sure we are doing everything we can to support people through a difficult time." | "That's why what we want to do is look at stronger rules across the board, that all the banks will follow, to make sure we are doing everything we can to support people through a difficult time." |
| Phil Woolas, who is joint Treasury and immigration minister, said that for some lenders, repossession seemed to the be the "first option" but the government wanted to make sure there were sufficient powers in the system to ensure it was the last. | Phil Woolas, who is joint Treasury and immigration minister, said that for some lenders, repossession seemed to the be the "first option" but the government wanted to make sure there were sufficient powers in the system to ensure it was the last. |
| Meanwhile, Chancellor Alistair Darling has said he will use public spending to boost the economy. | Meanwhile, Chancellor Alistair Darling has said he will use public spending to boost the economy. |
| Building projects | Building projects |
| In an interview with the Sunday Telegraph, he said: "You will see us switching our spending priorities to areas that make a difference - housing and energy are classic cases where people are feeling squeezed." | In an interview with the Sunday Telegraph, he said: "You will see us switching our spending priorities to areas that make a difference - housing and energy are classic cases where people are feeling squeezed." |
| Those costs of doing too little will be greater than if we take the action to maintain spending and investment in the real economy Peter Mandelson Tories urge small business help class="" href="/1/hi/business/7678545.stm">'It's not as bad as the 1970s' | |
| BBC political correspondent Norman Smith said there were suggestions that large-scale building projects, such as schools, hospitals and housing projects, would be brought forward to get boost jobs and try to avert a possible recession. | |
| The chancellor also signalled that proposals for two new aircraft carriers and a replacement for the Trident nuclear weapons system would go ahead - while the £16bn Crossrail project and 2012 Olympic Games would help create jobs. | The chancellor also signalled that proposals for two new aircraft carriers and a replacement for the Trident nuclear weapons system would go ahead - while the £16bn Crossrail project and 2012 Olympic Games would help create jobs. |
| "What I want to avoid is getting ourselves in a position government have done in the past where you face an immediate problem and cut back on the things the country will need in the future," he said. | "What I want to avoid is getting ourselves in a position government have done in the past where you face an immediate problem and cut back on the things the country will need in the future," he said. |
| The government says it can afford extra borrowing because it has reduced debt over the past 10 years. | The government says it can afford extra borrowing because it has reduced debt over the past 10 years. |
| Business Secretary Lord Mandelson said it was not a "spend, spend, spend" approach, saying Britain was in a better position to borrow than other European countries. | Business Secretary Lord Mandelson said it was not a "spend, spend, spend" approach, saying Britain was in a better position to borrow than other European countries. |
| He told BBC One's Andrew Marr Show: "Those costs of doing too little will be greater than if we take the action to maintain spending and investment in the real economy - in public services and in infrastructure too." | He told BBC One's Andrew Marr Show: "Those costs of doing too little will be greater than if we take the action to maintain spending and investment in the real economy - in public services and in infrastructure too." |
| Both the government and the Conservatives have been outlining their plans to help people through the credit crunch. | Both the government and the Conservatives have been outlining their plans to help people through the credit crunch. |
| Poll lead 'narrows' | Poll lead 'narrows' |
| The Conservatives have proposed allowing small businesses to defer paying VAT for up to six months to ease the tax burden. | The Conservatives have proposed allowing small businesses to defer paying VAT for up to six months to ease the tax burden. |
| In an article in the Observer, party leader David Cameron said his party's plans to help homeowners and entrepreneurs would be laid out in the coming months. | In an article in the Observer, party leader David Cameron said his party's plans to help homeowners and entrepreneurs would be laid out in the coming months. |
| An opinion poll in the Independent on Sunday suggests Gordon Brown's handling of the economic crisis has narrowed the Conservative lead. | An opinion poll in the Independent on Sunday suggests Gordon Brown's handling of the economic crisis has narrowed the Conservative lead. |
| The ComRes telephone survey of 1,007 adults puts the Conservatives nine points ahead of Labour - the party's narrowest lead since March. | The ComRes telephone survey of 1,007 adults puts the Conservatives nine points ahead of Labour - the party's narrowest lead since March. |
| And an ICM poll of 1,041 adults for the News of the World suggested 43% trusted Gordon Brown and Alistair Darling to handle the economy against 35% for David Cameron and George Osborne. | And an ICM poll of 1,041 adults for the News of the World suggested 43% trusted Gordon Brown and Alistair Darling to handle the economy against 35% for David Cameron and George Osborne. |
| But asked whether the crisis had made them more or less likely to vote Labour, only 13% said more likely, while 22% said less likely and 59% said it would make no difference. | But asked whether the crisis had made them more or less likely to vote Labour, only 13% said more likely, while 22% said less likely and 59% said it would make no difference. |
| Have you recently had your home repossessed or are you facing such a threat? Tell us about your experience using the form below: | Have you recently had your home repossessed or are you facing such a threat? Tell us about your experience using the form below: |