Comment on economic stimulus speculation
- Published on Wednesday, 05 September 2012 11:11
- Posted by Scott Buckler
Commenting on recent press speculation of an anticipated economic stimulus announcement, potentially to include an offer for housing, David Orr, Chief Executive of National Housing Federation, said..
"We would welcome a focus on house building as a way to drive economic growth.
"Building new homes is a win/win for the taxpayer. It provides homes for the millions on waiting lists, but also creates jobs, supports small businesses and will give our local economy a shot in the arm with a speed and effectiveness few industries can match. Building even 50,000 homes would create 275,000 jobs saving £1.5bn in jobseekers allowance and boost growth by generating £20 billion within the wider economy.
"But any package must include affordable homes for the millions on waiting lists as part of the mix. And deliver three things: innovative use of the country's balance sheet to lower the cost of finance, access to public land, rapid planning decisions. Each element is vital and interlinked, and a pick and choose approach simply won't work. An up-front capital investment would also make a huge difference.
"Housing Associations are ready and able to build more homes at scale and there are ways the government can do this without cost direct to the taxpayer."