Home repossessions up by 15%

The Financial Services Authority (FSA) has revealed that 54,055 people had their properties repossessed during 2009, an increase of more than 15% on the 46,945 properties repossessed in 2008.

This must be a red letter day for Labour’s Housing Minister, John Healey MP.  You remember him.  He was the Minister who in February, during an interview on BBC Five Live, said with breathtaking flippancy that in some cases repossession is the best thing for the people who are struggling with those mortgages.  But let’s stick to the numbers issue for now, which Healey also covered during the interview when he said:

‘The important thing is that people are informed about the help that’s available, able to deal with their lenders, confident that they know that the lenders must only use repossession as a last resort because of the rules we’ve got in place and so that’s part of what we’ve been doing in government… a campaign to make sure that people know there’s help available and can get it.’

Clearly that is absolute tripe.  A 15% increase in repossessions is an indictment of the failing big government approach Labour loves.  It is the consequence of the economic devastation brought about by high tax-high borrowing-high spend policies and a needless increase in the size of the public sector at the expense of the private sector.  Under Labour, which repeatedly spins that its policies are helping people (at great expense to the taxpayers), things are getting worse, not better.

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