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As the UK acknowledges Labour's triumph in the General Election, the housing crisis continues to escalate, making Labour's proposed measures both timely and necessary.
For us at wienerberger and our customer base across the housing and construction industries, it is imperative that the new Labour government delivers on a clear and actionable plan to accelerate sector growth. Its pledge to build 1.5 million homes over the next five years, starting with immediate housing announcements, signals a proactive stance. Simplifying the planning process and empowering local councils will facilitate more efficient land development, utilising lower quality 'grey belt' without compromising green spaces.
The Government's commitment to a buyer-friendly market, with affordable mortgage schemes and incentives for first-time and local buyers, should stimulate demand, essential for our industry's vitality. The Government's plans to give local authorities the resources and autonomy to boost housing stock and upgrade ageing properties are also vital for the social housing sector.
Rachel Reeves Unveils Ambitious Housebuilding Plans in First Speech as Chancellor
In her inaugural address as Chancellor, Rachel Reeves set forth ambitious new housebuilding targets for England, accompanied by a promise to relax planning rules to encourage more construction. Central to her plan is the restoration of mandatory housing targets, aiming to "fix the foundations" of the UK's economy.
The Chancellor outlined that Deputy Prime Minister Angela Rayner will spearhead efforts to review green belt boundaries, prioritizing brownfield and "grey belt" land to meet these ambitious targets. The Labour government has pledged to deliver 300,000 new homes annually, a figure not achieved in the UK since the 1950s. While acknowledging that building cannot happen overnight, the Chancellor emphasised the steps being taken to unlock private sector investment to boost housing construction.
The Government’s plans also involve significant planning system reforms to address long-standing infrastructure needs. The Chancellor also detailed Deputy Prime Minister Angela Rayner's expanded role, who as the Secretary of State for Levelling Up, Housing and Communities, will lead this housebuilding mission. The Government plans to hire additional planning officers to expedite the process, ensuring planning authorities prioritise suitable land for development. She emphasises that housing developments will still require the right mix of affordable and social rental homes.
Throughout the election campaign, Labour emphasised addressing housing supply issues, with a manifesto promise to build 1.5 million homes in England over the next parliament. Reeves reiterated this commitment, announcing the formation of a new taskforce to accelerate stalled housing sites and the support of local authorities with 300 additional planning officers.
The comprehensive plans include a review of previously rejected planning applications that could benefit the economy, with a full budget to be presented in the autumn.
As the UK's first female chancellor, Reeves aims to propel Britain into a new era of construction and economic stability. She commented in her speech, "This Labour government has been elected on a mandate to get things done and get Britain building. There is no time to waste."
Moving Forward
The housebuilding industry welcomes collaboration with the new Government. If Keir Starmer fulfils his manifesto promises, considerable progress can be made in resolving the housing crisis. We eagerly await updates regarding the Government’s proposed focus on addressing the skills gap through training programmes and apprenticeships. These initiatives will equip future builders with the modern skills crucial for our industry's growth. At wienerberger, we are ready to support the delivery of the homes that future generations need and deserve.
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