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Spring Statement 2019 - £3bn pounds affordable homes guarantee scheme welcome, but more innovation needed

Spring Statement 2019: £3bn pounds affordable homes

Jan Crosby, UK head of housing at KPMG comments on the announcements made at the latest Spring Statement.

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Commenting on the announcements made at the latest Spring Statement, Jan Crosby, UK head of housing at KPMG, said:

“Amidst the ongoing Brexit saga, the UK’s housing problem risks being eclipsed. Yet the problem of under-supply of our nation’s much needed homes remains. The chancellor did nod towards the progress made – which is promising – but we must not forget that we are playing catch-up and are nowhere near the aspiration to build 300,000 new homes each year.

“The dazzling takeaway from the statement will undoubtedly be the announcement of the £3bn affordable homes guarantee scheme, aiming to support the delivery of more affordable homes. However, whilst £3bn is a substantial sum and more investment is certainly welcome, we have to ensure that this doesn’t feed into any form of house price inflation – coordinated action is what’s needed here.  

“Such coordination around place-making has been evident in recent announcements, with noise around consultation on infrastructure finance and planning getting more of a review, but in my mind it is innovation that is lacking. Thinking of alternatives – like an employer-backed nomination scheme, for example – is what will finally ensure the UK gets our housing problem under control.”

 

ENDS

 

Follow us on twitter: @kpmguk #SpringStatement

For further information please contact:

KPMG Press office
T:  +44 (0) 207 694 8773

Simon Wilson, KPMG Corporate Communications
T: 020 7 311 6651
M:  077853 73397
E: simon.wilson@kpmg.co.uk


About KPMG

KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 16,300 partners and staff.  The UK firm recorded a revenue of £2.338 billion in the year ended 30 September 2018. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 154 countries and has 200,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity.  Each KPMG firm is a legally distinct and separate entity and describes itself as such.

 

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