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Javid hints at housing shake-up in Budget

By Aubrey Allegretti, Political Reporter
A minister has called for more borrowing to solve the UK's housing crisis, in a hint at measures in next month's Budget.
Communities Secretary Sajid Javid said the Government should "absolutely be considering" using "record-low interest rates" to build more homes.In a significant departure from party policy, he told the BBC's Andrew Marr Show: "What I want to do is make sure we're using everything I have available to deal with the housing crisis."Where that means, for example, we can sensibly borrow more to invest in the infrastructure that leads to more housing, take advantage of some of the record low interest rates that we have, I think we should absolutely be considering that...
Javid hints at housing shake-up in Budget

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Sajid Javid said up to 300,000 homes a year should be built
"We have to continue to be bold in this area. We set out some measures during the conference but there is a lot more to do."This is one of the biggest barriers to social progress in this country."He called for between 250,000 and 300,000 new houses to be built every year to fix the issue failed on by "successive governments".And in an act of either public lobbying or hint-dropping, Mr Javid was coy about Chancellor Philip Hammond's plans for the Autumn Budget.
Javid hints at housing shake-up in Budget

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Mr Javid was coy about the Chancellor's plans for the Autumn Budget
Asked if Mr Hammond supported it, the Bromsgrove MP said: "Let's wait and see what happens in the Budget."But Labour hit back, with shadow housing secretary John Healey saying: "If hot air built homes, ministers would have fixed our housing crisis."Any promise of new investment is welcome, but the reality is spending on new affordable homes has been slashed since 2010 so new affordable housebuilding is at a 24 year low."Rather than set more targets they can't meet, ministers should back Labour's plan to build 100,000 genuinely affordable homes a year, including the biggest council housebuilding programme in more than 30 years."
Javid hints at housing shake-up in Budget

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The Government is likely to be planning policies to win back young voters, who largely voted for Labour in the snap 2017 General Election.Earlier this month, Prime Minister Theresa May announced €9.1bn for an affordable housing programme to be spent on new homes before 2021.She used her Tory conference speech to highlight how just 38% of those aged 25-34 own their own home, compared to 59% just over a decade ago.
news.sky.com
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