The prime minister has met with senior figures in the housing industry to discuss what can be done to help the sector.
The prime minister met with senior housing industry figures to discuss the sector and the economy as a whole at Downing Street yesterday (November 28th).
Gordon Brown was joined by Margaret Beckett, the housing minister, for the talks, which included figures from the Council of Mortgage Lenders and the National Housing Federation. He explained that he understood the difficulties the industry was facing and added that he appreciated how important it was to the wider economy.
However, he stressed that the government has "taken a number of initiatives in relation to housing but [is] ready to look at more". He added: "We are trying to encourage the mortgage industry back into business."
This could not be done in the same way as other European countries and the USA, Mr Brown said, because the UK's problem is "a bit different". Rather than overbuilding, the problem has been over whether people can afford housing. This meant that "there is a chance that [the UK] can come back more quickly than some of the other countries".
Following the meeting, the chairman of the National Housing Federation, John Cross, agreed that the UK's economy was "as well insulated as any" in terms of moving forward. He added that there had been agreement that "the key bit is about building confidence and accessing the mortgage market in a sensible way".
