Labour set to announce big housebuilding plans
Labour leader Ed Miliband is expected to reveal the party’s plans for a big expansion of housebuilding in his speech on Tuesday (24 September)
According to the Financial Times, Miliband will say the party would oversee the construction of thousands of new homes should Labour win the next election.
Meanwhile shadow chancellor Ed Balls told The Times that the maximum price of properties that could be bought through the government’s Help to Buy scheme was too high and risked causing a bubble in London and the south east.
The scheme provides loans for 20 per cent of the value of properties worth up to £600,000.
The AJ’s sister publication Construction News also reported that at a fringe meeting on Sunday MP Catherine McKinnell said a future Labour government would make housebuilding a priority.
At the same meeting councillor Mike Roberts, a member of Labour’s housing group, said the group would discuss the idea of lifting restrictions on local authority borrowing and introducing a land value tax to replace business rates and stamp duty with Labour’s shadow Treasury team. He also said he favoured rent controls to deal with unaffordable rises in rents.