I have no plans to extend the first-time buyer's grant to those buying older houses as any additional grant aid would, in present market circumstances, be likely to be absorbed in house price increases. A series of measures to assist first time buyers were introduced by the Government in Action on House Prices, April 1998, and Action on the Housing Market, March 1999. Following a further review of the housing market earlier this year and of social and affordable housing programmes the Government launched Action on Housing which contains a number of key measures to assist first-time buyers including: the removal of fiscal incentives to discourage speculators pricing first time buyers out of home ownership; major reductions in stamp duty with an exemption from stamp duty for first time buyers purchasing a second hand house priced up to £150,000; and significant improvements to the terms and conditions of a number of the social housing options, including the local authority affordable housing scheme, the shared ownership scheme, the local authority house purchase loan scheme and the mortgage allowance scheme.