dikkertjedap: Yes, Netherlands has one of the highest homebirth rates and also the highest perinatal mortality rate in Europe. However, this doesn't mean that one causes the other. Statistical analysis of data for home and hospital birth in the Netherlands actually showed no difference in perinatal death risk between home and hospital as planned place of birth. It will be interesting to see the results of the review mentioned and whether it pinpoints any likely causes of the high perinatal death rate.
Being in hospital for birth in the UK doesn't guarantee instant action on problems as many people imagine.
In terms of 1:1 care, monitoring and quick initiation of emergency action, you may actually be at least as well off at home.
Bear in mind that in a hospital setting, the same midwife may be splitting her attention between 4-5 other women at the same time as you, making it easier to miss potential problems. At home you will have the full attention of a midwife who can raise the alarm immediately if necessary.
Also remember that there isn't a 24 hour operating theatre on standby in every maternity unit, especially not for those catering for low risk births. At night there doesn't even have to be a consultant ob on the premises. (Interestingly, a recent study highlighted the increase in negative birth outcomes at night. This is one of the possible influencing factors.)
If a midwife at home recognises a problem which needs emergency medical attention, she phones in and the hospital can begin preparing while you are in transit.
In the event that you move from a low risk labour to an emergency situation at night in hospital, the on-call ob (and potentially the surgical team) would have to be brought in.
RCOG recommends that EMCS are carried out within 30 mins but many do not meet this target. You can see how this might happen in either hospital or home situations.