Thousands turn out for "Save Lewisham A&E" hospital march

. . . and the Jeremy Hunt coconut shy went down a storm.

 

Yesterday Lewisham town centre was brought to a standstill as thousands of people took to its streets. They were voicing their their anger at proposals to close the A&E unit at Lewisham Hospital, and to downgrade the maternity service.  

The proposals come after the South London Health Care Trust ran up huge debts following an expensive PFI Initiative - as detailed in Rowenna Davis's New Statesman piece. However, that trust has nothing to do with the running of Lewisham Hospital - and there was clear anger among demonstrators that their local services were being cut in order to pay back a debt not of their making.

A local organisation, Lewisham People Before Profit, handed out song sheets with alternative Dad’s Army theme tune:

Who do you think you are kidding Mr Kershaw/ Our hospital is here to stay / We are the ones who will stop your little game / We are the ones who will make you think again / Cos we can find the money Mr Kershaw  / If we make the bankers pay.

Matthew Kershaw is the special administrator appointed by Andrew Lansley to tackle the financial problems of the South London Health Care Trust. It was his proposal to shut the A&E Department (only months after it reopened following a refit) and that the patients should be moved to the Queen Elizabeth Hospital in Woolwich to save money.

On the march, Brighton-based artist and educator Bern O’Donoghue said: “Both my children were born in the hospital, and we’ve used the A&E loads of times. We wouldn’t have coped if we’d have had to go six miles to Woolwich. It’s a ludicrous plan and one which will have a hugely damaging impact on the community.”

Many children on the demo were in buggies with ‘Born in Lewisham Hospital’ signs attached. I saw a mother marching with her children, carrying a placard saying “We’re here thanks to Lewisham A&E”.

Strikingly, the demo seemed to have brought together an incredibly diverse range of groups and organisations all united in opposition to the plans. I saw banners from various union branches and political groups, but there was also support from Millwall Football Club, who had even moved the date of a match so that their supporters could attend the demo. A local group called Islamic Awareness also displayed a Save Our NHS placard on their stall outside Lewisham Library as the demo passed by.  Even car drivers caught up in the march and unable to move were supportive, tooting their horns and cheering the marchers.

As the march passed by Lewisham Hospital itself, its staff - still in their medical uniforms - came out to applaud the demo, and were cheered in return.

At the final rallying point in Mountsfield Park, the atmosphere was positively charged as the crowds arrived and people began to appreciate the sheer scale of the march. 

And for those with frustrations left to vent, the Jeremy Hunt Coconut Shy was open, and doing a roaring trade. 

You can follow @Brixtonite on Twitter. 

A sign in a Lewisham window. Photo by @Brixtonite
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I was wrong about Help to Buy - but I'm still glad it's gone

As a mortgage journalist in 2013, I was deeply sceptical of the guarantee scheme. 

If you just read the headlines about Help to Buy, you could be under the impression that Theresa May has just axed an important scheme for first-time buyers. If you're on the left, you might conclude that she is on a mission to make life worse for ordinary working people. If you just enjoy blue-on-blue action, it's a swipe at the Chancellor she sacked, George Osborne.

Except it's none of those things. Help to Buy mortgage guarantee scheme is a policy that actually worked pretty well - despite the concerns of financial journalists including me - and has served its purpose.

When Osborne first announced Help to Buy in 2013, it was controversial. Mortgage journalists, such as I was at the time, were still mopping up news from the financial crisis. We were still writing up reports about the toxic loan books that had brought the banks crashing down. The idea of the Government promising to bail out mortgage borrowers seemed the height of recklessness.

But the Government always intended Help to Buy mortgage guarantee to act as a stimulus, not a long-term solution. From the beginning, it had an end date - 31 December 2016. The idea was to encourage big banks to start lending again.

So far, the record of Help to Buy has been pretty good. A first-time buyer in 2013 with a 5 per cent deposit had 56 mortgage products to choose from - not much when you consider some of those products would have been ridiculously expensive or would come with many strings attached. By 2016, according to Moneyfacts, first-time buyers had 271 products to choose from, nearly a five-fold increase

Over the same period, financial regulators have introduced much tougher mortgage affordability rules. First-time buyers can be expected to be interrogated about their income, their little luxuries and how they would cope if interest rates rose (contrary to our expectations in 2013, the Bank of England base rate has actually fallen). 

A criticism that still rings true, however, is that the mortgage guarantee scheme only helps boost demand for properties, while doing nothing about the lack of housing supply. Unlike its sister scheme, the Help to Buy equity loan scheme, there is no incentive for property companies to build more homes. According to FullFact, there were just 112,000 homes being built in England and Wales in 2010. By 2015, that had increased, but only to a mere 149,000.

This lack of supply helps to prop up house prices - one of the factors making it so difficult to get on the housing ladder in the first place. In July, the average house price in England was £233,000. This means a first-time buyer with a 5 per cent deposit of £11,650 would still need to be earning nearly £50,000 to meet most mortgage affordability criteria. In other words, the Help to Buy mortgage guarantee is targeted squarely at the middle class.

The Government plans to maintain the Help to Buy equity loan scheme, which is restricted to new builds, and the Help to Buy ISA, which rewards savers at a time of low interest rates. As for Help to Buy mortgage guarantee, the scheme may be dead, but so long as high street banks are offering 95 per cent mortgages, its effects are still with us.