1) Housing Chaos
As a result of George Osborne’s Summer Budget this year, says Paul Waugh at The Huffington Post, “at least 14,000 fewer affordable homes will be built” in the UK. This statistic, from the Office for Budget Responsibility (the government’s “own financial watchdog”), came as a result of a small 1% cut in rents for council and housing association tenants (a seemingly positive measure) which would leave a ‘funding gap’ for housebuilding. And this was precisely why Shadow Chancellor Chris Leslie claimed the budget would “mean going backwards rather than forwards on new home construction”. For the TUC’s Frances O’Grady, this regressive move would combine with house price inflation (“forecast to increase faster than wages”) to put home ownership “out of reach of more workers” in the next five years.
In fact, according to the National Housing Federation (NHF), the “£1.45bn hit to housing association…
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