Away from Northern Rock

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Last week, new figures released by the Halifax revealed that homeownership rates are at their lowest level for a decade.

The opportunity to own your home is a matter of real aspiration. The Government has impacted ordinary families by making it harder to get on the housing ladder with higher Stamp Duty and additional costs like Home Information Packs.

It has also recently been revealed that the cost of living has been outstripping earnings growth for the past two years. As is evident from talking to people in my constituency, these figures confirm what ordinary people already feel in their wallets.

At a time when people are faced with soaring food and fuel costs, difficulties in buying a home and real take-home pay falling, ordinary families are more squeezed then ever.    

If it is the economy stupid, then there is much rumbling in the real world out there.

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