John Prescott has announced a government plan to help get first time buyers onto the housing ladder, by building homes on surplus government land that will be sold for around £60,000 through shared ownership schemes. “Starting with the surplus public sector land held by English Partnerships and the land we are acquiring from other government departments, I want to use this asset in a more productive way," said the deputy prime minister. "Instead of selling it to the highest bidder, I want to work with builders to deliver high-quality homes at affordable prices. The government would retain a stake in the land while the buyer would pay for the bricks and mortar. “If we take land costs out of the equation, I believe it should be possible to build a high-quality home for around £60,000. I want to challenge our construction industry to achieve that, building on our concept of the London-wide Initiative developed by English Partnerships." The scheme will be piloted by English Partnerships in London and the south east, and will be based around an equity share model, along the lines existing shared ownership schemes. Further details will be provided in ODPM's five-year Strategic Plan due to be …