Labour is pledging a “housing revolution” with the biggest council house building programme for decades
Its manifesto being launched today will include new plans to pay for extra public housing from Labour’s Social Transformation Fund.
Half of this fund – around £75 billion over five years – will be allocated to housing.
The homes will be built “to cutting edge design and green standards” according to the party, which cites Goldsmith Street council development in Labour-led Norwich as an example of what modern council housing could look like.
Labour’s plans will mean:
- scaling up council house building so that we are building 100,000 council homes a year by the end of the parliament,;
- building at least 50,000 additional affordable homes a year through Housing Associations by the end of the parliament;
- at least 150,000 new council and social homes a year within five years, delivering the biggest council housebuilding programme since the years immediately after the Second World War, and the biggest overall affordable housebuilding programme since the 1960s.
“The scale of Labour’s building programme will mean that homes will be available in every area for families, trapped younger renters, and older people in sub-standard homes” says a party statement.
Labour says it will scrap the Conservatives’ definition of affordable housing replacing it with a new Labour definition linked to local incomes, including social rent – which works out at around half the level of market rents – alongside new living rent and homes for low-cost ownership.
“Housing should be for the many, not a speculation opportunity for dodgy landlords and the wealthy few. I am determined to create a society where working class communities and young people have access to affordable, good quality council and social homes” says party leader Jeremy Corbyn.