Speeches, etc.

Margaret Thatcher

Speech to Finchley Business Club

Document type: Speeches, interviews, etc.
Venue: Golden Eagle, Regent’s Park Road, Finchley
Source: Finchley Times, 15 November 1974
Editorial comments: 1230.
Importance ranking: Minor
Word count: 455
Themes: Privatized & state industries, Housing, Local government

Housing still a ‘hot potato’

The “hot political problem” of housing had not been solved since the war, Mrs Margaret Thatcher, MP for Finchley and Friern Barnet, told a gathering of about 50 businessmen and women last week.

Mrs Thatcher, speaking at the monthly meeting of Finchley Business Club at the Golden Eagle, Regents Park Road, Church End, said that 30 per cent of houses were in the hands of local authorities, 50 per cent were owner-occupied and the rest were privately owned.

She went on to stress that one of the main faults of previous Governments was not keeping stock of houses which could have been modernised and brought up to decent living standards.

“I firmly believe that owner-occupation means better houses and that is why the Conservatives, when in power, brought in the improvement grants,” she went on “Over 360,000 houses were modernised and at the same time many more people, living in council houses, were able to buy their own homes.”

Answer

Mrs Thatcher suggested one way in which the housing problem could be tackled.

“I would like to see council tenants being given the option of renting, buying or taking out a three-year option of purchase. In the latter proposal a tenant would pay £1 extra a week on the rent, and if the option was taken up after the three year period that extra rent would be credited towards the deposit.”

Giving examples of how prices varied, Mrs Thatcher said that in Westminster, where 202 units were built by the council in 1964, the rent was estimated at £55 per week, but the “fair rent” was £11, which meant the taxpayer was subsidising tenants by 80 per cent.

She condemned the Greater London Council's plan to buy land in other boroughs to build houses.

“There are acres and acres of land in the inner London boroughs which have lain idle for years. Dockland is a good example and the GLC still don't know how to deal with this big area.”

Questions

Answering questions, Mrs Thatcher said the rising cost of houses was not because of the land on which the house stood.

“It is the valuation of the property and the particular environment in which it stands that is the major factor in high prices.”

One member asked her whether nationalisation of land was the right answer.

Amid cheers, she retorted, “Never give Governments too much power, because they never get their figures right.

“I wish some politicians were less arrogant and paid more attention to the important matters needed to put the country on its feet.”

Mrs Thatcher was welcomed to the club by the president, Mr Hugh Isaacs, who said her appearance had resulted in the biggest turn-out since the club's formation over a year ago.