Labour plans increasing affordable homes

21-Apr-2005

Chancellor Gordon Brown has revealed that another term of Labour government will result in a number of measures to help aspiring homeowners get on the property ladder.

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As the election draws near, Mr Brown announced that new measures would be unveiled during a third term of Labour government to help first time buyers finance their purchase.

He also referred to pledges made by John Prescott to build more affordable housing for first time buyers and reaffirmed his party's commitment to provide key workers with affordable homes.

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The chancellor explained that new land will be released for development so that the affordable homes can be established and added that the proposals represented part of Labour's plans to maintain economic stability.

He explained: "The foundation must be continued economic stability - with low and stable interest rates for Britain's home owners and aspiring home owners."

The announcements came as Mr Brown looked to court female voters and young families, and formed part of a raft of measures aimed at improving facilities for young families looking to get onto the property ladder.

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