Coalition plan raft of measures to kick-start house building
Government to use Budget to announce more measures to help construction
March 5, 2013
A raft of measures are being compiled to improve the ailing construction industry, in preparation for an announcement in the Budget on March 20. To underline the importance of these policies David Cameron and Nick Clegg are to reveal the plans together. They plans include shared equity schemes, social housing, and more support for first-time buyers.
To those who have followed the government’s previous string of announcements on housing none of these plans will come as much surprise and probably will offer little comfort. A succession of high profile strategies to boost housing in the UK have done almost nothing to increase the number of houses being built. Just last week it was revealed that the much lauded Funding for Lending scheme run by the Bank of England to increase lending had achieved very little accept to help existing borrowers get better remortgage deals.
Vince Cable, business secretary, believes that housing projects are a quick way of injecting demand into the economy. “I think we should be doing a lot more capital spending and that’s where the focus has got to be now,” he said last week. At the housing launch, Mr Cameron and Mr Clegg will also promise new “garden towns”, more flats above shops and an expanded private rented sector.
To find out more about government schemes to help you get on the housing ladder click here to read our guide