The Confederation of British Industry (CBI) has focused attention on housebuilding in the autumn pre-election party conference season. It has called on the political parties to “think big and bold on this national priority,” with a programme to deliver 240,000 high quality, sustainable homes a year to maintain the UK’s future economic competitiveness.
Its report, Housing Britain – Building new homes for growth, calls for a commitment to:
- Double current housebuilding levels, to deliver 240,000 homes a year within a decade
- have 10 new towns and garden cities completed or under way by 2025
- Continue to push ahead with zero carbon ambitions for new homes
- Support high quality development through government guidance
- Increase the affordable housing budget, and spend less on housing benefit
- Improve consumer information on the quality of new homes.
The report finds that housing shortages have created above-inflation house price rises, which is taking £4bn out of consumers’ pockets annually – £3.2bn in housing-related costs and £770mn in transport-related costs.
The report is part of the CBI’s manifesto outlining the business vision for a better Britain. As part of this CBI is also calling for a roadmap for increasing capital spending as a percentage of UK GDP in the next parliament and beyond and an independent body to determine the UK’s infrastructure needs.
Katja Hall, CBI deputy director-general, said: “With conference season around the corner, we need all political parties to put forward election pledges which tackle the UK’s challenges head-on so that we deliver prosperity for everyone not just from next May, but for a generation. Addressing the chronic housing shortage should be near the top of every party’s to-do list.”