asked the Chancellor of the Exchequer is he will now take further action to reduce the cost of mortgages for young married people.

Discussions with the Building Societies Association on the deferred mortgage payments scheme to help first-time home buyers are well advanced. The scheme should provide a good deal of help to young married couples taking on a mortgage for the first time.

Is the right hon. Gentleman aware that few people continue to believe the Government on this matter? Does he recall the days when the Conservatives castigated the Labour Government when mortgage interest rates reached 8½ per cent.? How does he justify the present penal rates? In his reply, will he refrain from citing the miners as an excuse?

Well over half the people of this country are now owner-occupiers. That is, on the whole, of great credit to the success of Tory policies. The building societies have recently made statements which indicate that they are not expecting any further increase in mortgage rates.