Labour offered a number of proposals. Some of them had been announced previously. Many of them were rather vague and aspirational. Some of them looked kind of familiar – the Mansion Tax proposal most specifically. However, the proposal that many were hoping for – the big prize – relaxing the fiscal rules so that local authorities were allowed greater freedom to borrow for new development – was squashed by Ed Balls. Labour housing colleagues are now looking towards the Lyons Review – which is alleged to be emerging soon – to add a bit of ballast to the policy position.
The Conservative conference was rather short on specific housing policy announcements. Most of the announcements relevant to housing were focused on curtailing benefits to various groups deemed undeserving. I imagine one or two social landlord CEOs will be having sleepless nights worrying about their cashflows should the Conservatives be elected to govern alone come May 2015.
The eye catching announcement at the Conservative conference was the proposal to deliver 100,000 homes to first time buyers under the age of 40 at a 20% discount, with the homes to be cheaper because they’re built on brownfield industrial land. [Read more...]