Wednesday, Nov 25, 2015

A welcome change in policy

BBC News: Spending Review: George Osborne to pledge housing cash amid cuts

George Osborne is to set out government spending plans up to 2020 later, which will include billions of pounds in cuts but also new money for housebuilding. The Autumn Statement and Spending Review will detail £20bn of cuts to Whitehall budgets and £12bn to welfare. But the chancellor will pledge almost £7bn to make housebuilding a priority, with more than 400,000 "affordable homes" to be built in England.

Posted by quiet guy @ 08:14 AM (4730 views)
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1. hpwatcher said...

I wonder what the sting in the tail will be? There usually is with this guy.

Wednesday, November 25, 2015 01:32PM Report Comment

2. mombers said...

Something about Housing Benefit being limited to Local Housing Allowance as a means to reduce welfare bill. Will cause some temporary hardships but should reduce private rents somewhat. What would have been awesome was if they said that Housing Benefit would be paid at the council rent in all privately owned council flats. No reason for the government to be handing over cash to lottery winners.
Silly increase in stamp duty for BTL and 2nd homes, haven't they looked at what the increase in SDLT on high value homes has done to transaction levels and revenues? Shooting themselves in the foot in order to look like they're doing something.

Wednesday, November 25, 2015 03:38PM Report Comment

3. stillthinking said...

There aren't enough skilled people to increase house building, as Osbourne must surely know. This is a meaningless target that cannot be achieved.

..there is even a brick shortage.. Why think that government could step in and wave a magic wand. At some point housing becomes unrecoverable over the short term. Whether or not they can rescue the situation in a decade remains to be seen but to some extent, so what. Maybe this bluff can break some impasse on pricing between buyers and sellers, if one exists.
Brickies at 400 in the Midlands. Of course thats an exaggeration for effect but to when prices for software developers went past 250 the government started handing out visas like there was no tomorrow. Housing is a bit different because the workers need housing (they don't need software and it won't run out anyway).

I wonder if this failed target releases the additional funds that take the edge of austerity. If Osbourne said he was going to build a floating sky city could the ONS add the costs back into the budget on the grounds that he clearly can't.

Thursday, November 26, 2015 11:18AM Report Comment

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