Published: 29th Oct 2018

A ‘new generation’ of high-quality council housing could boost the British economy by £320bn over the next 50 years, according to town hall leaders. Figures released ahead of today’s Budget by the Local Government Association (LGA) show every £1 invested in a new social home could generate £2.84 in the wider economy. And every new social home would generate a saving of £780 per year in Housing Benefit, the LGA has claimed. The analysis, which looks at four different future economic scenarios, demonstrates how new social housing will deliver huge gains to tax payers. The worst-case economic scenario still results in a £102bn return. Town hall leaders want to see a national ambition to work towards delivering a new generation of 100,000 high quality social homes every year. Last month, the Prime Minister responded to calls from the LGA to remove the borrowing cap, which has prevented councils from building … (To read the full article, subscribe below)