Gordon Brown has highlighted plans to extend home ownership in a Labour third term.

In a campaign speech in Gloucester on Tuesday the chancellor contrasted his party's proposals with Tory "cuts" to the housing budget in a bid to put the economy at the forefront of voters' thinking when they enter the polling booths.

Brown said he had "been struck by how many British families want our country to do more to put home ownership within the reach of young couples".

Ministers want to use shared equity schemes, the release of government land for development and a drive to bring down the average cost of building homes to help one million more first-time buyers onto the property ladder.

However many fear this message and the government's record of economic stability have been lost amid rows over Iraq and immigration.

Labour is trying to put the economy and education back in the spotlight as floating voters make up their minds ahead of polling day.

"While one million more families than 1997 today own their own homes because of low interest rates, I recognise that high house prices make it difficult for young families to get on the first rung of the home ownership ladder," the chancellor said.

"And I have been struck by how much support there is for taking new measures that will help young couples get the best start in their lives together.

"So today I want to promise new measures in the next parliament  to help more and more British families own their own homes.

"The essential elements of our policy – economic stability has produced low interest rates, half those of the Tory years.

"Unlike the Tories we will, in the next parliament, back this up with measures to back homeownership, public investments that our opponents would put at risk."