British business brands investment in affordable housing a ‘no brainer’
CBI joins call for more grant
The body representing 240,000 businesses across the UK has thrown its weight behind the Grant Britain Homes campaign calling on the government to provide grant funding for affordable housing.
The Confederation of British Industry, which represents businesses that employ a third of the UK’s private sector workforce, has backed Inside Housing’s campaign and branded investment in housing a ‘no brainer’.
In a submission to the government ahead of the spending review on 26 June, the CBI today called on the coalition to ‘ramp up’ the £1.8 billion affordable homes programme to address the housing supply shortage. It demanded ‘clarity and certainty’ over the next AHP investment cycle.
Rhian Kelly, director of business environment at the CBI, said: ‘Investing in housing is a no brainer, when the chancellor has to walk the tightrope of making substantial savings, without harming fragile growth.
‘The spending review should set out a clear, concrete way forward – ramping up the AHP with clear funding earmarked over the next investment cycle.
‘We need to shift from revenue to capital spending, with more flexible ways of attracting private investment to reduce pressure on the public purse – opening up public-owned land; equity stakes; deferring land payments; and offering guarantees alongside capital subsidies.’
The CBI joins bodies representing hundreds of landlords including the National Housing Federation, the Chartered Institute of Housing, homelessness organisations Homeless Link and Crisis, and politicians including shadow housing minister Jack Dromey and Liberal Democrat deputy leader Simon Hughes in backing the campaign.
Mayor of Liverpool Joe Anderson, mayor of Newham, east London, Sir Robin Wales, and MP for Greenwich and Woolwich Nick Raynsford also backed the campaign this week.