Increase the supply of social housing
Expanding social housing is the only way government can meet its 300,000 target for new homes each year.
We need to deliver 3.1 million more environmentally sustainable social homes over 20 years. This will allow the benefits of social housing to be offered much more widely, providing both security for those in need and a step up for young families trying to save for their future – while addressing the climate emergency.
This will provide hope for those in greatest difficulty – with just over 1.27m homes for those who are homeless, in the worst conditions and in ill health, over 691,000 for older renters, and 1.17m for people trapped in unaffordable, insecure private renting.
This 20-year programme will provide a return on investment in 39 years, with a cost of £10.7bn a year on average – reduced to £3.8bn when savings in benefits and increased taxes are considered. It’s worth the money, compared with the £21bn spent on housing benefit annually and our £62bn budget for capital expenditure.
A big expansion of social housing is the only way government can meet its 300,000 target for new homes each year. It will provide an affordable, sustainable, stable home for 3.1 million households, and, more than any other change, properly address the housing crisis and give people hope for the future.
Tags Homes for all
- Building for our future: a vision for social housing. Shelter, 2019
- What lies beneath. New Economics Foundation, 2018
- Increasing the supply of social housing. Class, 2018
- New Thinking for the British Economy (ch10). openDemocracy, 2018
- Here's how Britain's broken housing system can be fixed in a decade. Guardian, 1/8/19
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