End £30bn bank benefits, tax wealth like work, break the gas price link, launch a rooftop solar revolution and build 1.4m homes. Peoplenomics in five steps.
Houses are homes, not investments
Britain's housing crisis is existential. Developers drip-feed builds to keep prices high while sitting on land. It's time for the biggest council build ever.
Britain is facing an existential housing crisis, akin to that faced at the end of the second world war. Labour has made a start, but must move faster, think bigger and take on the vested interests of developers, landowners and landlords.
We must abandon the cautious incrementalism that often characterises housing policy.
We cannot rely on private sector solutions. The industry is drip-feeding new builds into the market to keep prices high, while the big commercial house builders sit on thousands of acres of land with planning permission for years.
This is not progressive housing policy – it's extortion. The government should pass legislation specifying time limits on permissions – with massive tax penalties for those who drag their feet. In extremis, local councils should be given powers to take the land into public ownership and enable housing associations, local authorities and smaller builders to actually build those homes.
Labour should lead the biggest ever programme of council house building. Social housing is one of the most effective ways to reduce housing benefit costs and create stable communities. Building more houses isn't a cost – it's a saving.
New developments should be exciting, visionary, with green spaces, schools and health centres.
Around Stroud, I am very aware of the distortion to the housing market of the explosion of year-round Airbnb lets. Councils should be able to cap these where homes are needed.
Tax rules should actively discourage land speculation rather than reward it. And councils need stronger compulsory purchase powers. Houses are homes first, investment opportunities second.
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