Monday, February 15, 2010

Home Reposessions

The figures were announced last week of a 14 year high in reposessions-46,000 last year.
Thats 46,000 seperate tragedies and, contrary to what you might have heard, reposession is NEVER a good thing.
The key statistic, however,is that all the lending institutions were anticipating in excess of 70,000 reposessions. That means that Labour Government action has saved nearly 30,000 people from being reposessed.
Similarly,all the economists agree that labour policies have prevented at least half a million redundancies.
Thats the point about Labour policies. We can't stop all redundancies or reposessions but we can use the power and resources of government to limit the damage, protecting as many people as possible from the economic downside. The Tory view is that such action "distorts" the market and we need to just let events take their course. Thats easier when its not you losing your job or your house.

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