Ed Miliband has announced plans to unlock £5 billion of investment in a Future Homes Fund. That will be enough to build 125,000 homes over the course of the next parliament. The money will come from requiring banks and building societies to invest money saved in Help to Buy ISAs in house building, because building homes is the only way to help the next generation of first time buyers. Local first time buyers will get priority access to the homes built.
Labour’s comprehensive housing plan – the first for a generation – is a foundation stone for building a country where working people can succeed.
Labour will:
- Get 200,000 homes built a year, backed by a Housing Investment Fund of over £5 billion for investment in new homes.
- Build hundreds of thousands of new homes in Housing Growth Areas, new sites where local first time buyers will have priority over new homes.
- Reform the private rented sector so those that are locked out aren’t ripped off with 3 year tenancies, a ceiling on excessive rent rises and a ban on letting agents fees.
Cllr Mick Lerry said “Labour is today setting out our plans to revive the dream of home ownership for millions of families and put first time buyers first. David Cameron’s failing plan has seen the Tories presiding over the lowest rate of house building since the 1920s and the lowest level of home ownership for 30 years which has left millions of families priced out of a market where the typical price of a property is now eight times average wages”.
Cllr Mick Lerry Labour Parliamentary Candidate for Bridgwater and West Somerset Constituency
Email: michael.lerry@btinternet.com
Mobile: 07775 905080
Well its good news to hear a policy which increases the supply of housing.Theoretically a sizeable increase in housing units should reduce the cost of purchase,{supply and demand}. Currently called Social Housing, used to be called Council housing, built and managed by Councils.The sell off of council houses by Mrs T for pure political gain and in my mind was a theft of public assets.Council houses were and still being sold at knock down prices,what capitalist would sell their assets for less than they were worth?Council housing was originally provided for the benefit of poor people and those on low wages. We do not want the return of Workhouses and the Poor Law.
Although under this Government the most vulnerable sections of society are subject to conditions not so far removed from the Poor Law situation. Yes I say, build more house via local councils, stop the sell off of council housing and in the first weeks of a Labour Government, revoke the 3rd bedroom tax, which is pure class warfare and spite.