Today, chief executives from a range of Britain’s biggest companies join together to call on the government to urgently increase investment in social housing. This call reflects the growing recognition that now is the time (both morally and economically) to invest in high quality, affordable, social housing.
Dear Prime Minister,
Re: Urgent investment in social housing
Last year home was a place of safety and security for millions of us, and this has been particularly apparent as we’ve talked to our colleagues from their kitchen’s tables, living rooms and their bedrooms. Sadly, however, a decent, affordable and safe home isn’t available to everyone with and more than a quarter of a million people in England currently homeless and living in temporary accommodation.
This is something we can change, but to do that will require action from government. And central to this action must be an ambitious plan to dramatically increase the supply of social rented housing at this year’s budget.
Unless this step is taken now, we risk yet more Christmas Days where more than 100,000 children wake up homeless.
The value of such investment is also wider than putting roofs over the heads of those that need them. It can play a vital role in boosting our economy and delivering the government’s ambitions to level-up and to usher in a Green Industrial Revolution.
As businesses we want to see the economy grow. But we also know that if we want growth to mean opportunities and benefit for existing communities then certain things are needed to make that happen – chief among them access to housing people can afford.
With research suggesting that as many as 250,000 jobs are at risk from a collapse in housebuilding it is also clear that the time to act is now.
We believe there is a clear need to improve the quality of homes that people live in, making them energy efficient and low carbon to meet our net zero goals, as well as cheaper to run and healthier to live in. Shelter research during the coronavirus lockdown has shown that 56% of renters experienced problems with the condition of their existing home. We need to address these issues across all types of tenure, but social housing can lead the way through a new programme focussed on the construction of homes built to the highest standards. This will protect and create jobs and increase productivity by providing opportunities for skills training as we pursue the innovation that needed to bring our buildings firmly into the 21st century.
The coming months will be a crucial time for business and government to work closely together, but it is also a time when we must be honest about what building blocks our country needs to build back better.
Investing in social housing today is a vital part of building a better tomorrow.
Yours sincerely,
Lord O’Neill
Vice Chair of the Northern Powerhouse Partnership
Jasmine Whitbread
Chief Executive, London First
Michael Lewis
Chief Executive, E.ON
Joe Hudson
Chief Executive, Ibstock
Joe Garner
Chief Executive, Nationwide
Robin Fieth
Chief Executive, Building Societies Association
Alison Rose
Group Chief Executive, NatWest Group
