House building projects planned by the new Government [11th July 2007]

Gordon Brown has given a pledge that he will seek to correct the housing crisis that is enveloping the UK. Outlining the Governments plans he said that there will be three key housing Bills to boost the supply of affordable housing in the UK. The plans suggest that the existing objective to build up to 200,000 new homes by 2016, can be improved upon and there may be an additional 40,000 homes made available. Housing has become a national priority commented the PM. Mr Brown said: "Putting affordable housing within the reach not just of the few but the many is vital both to meeting individual aspirations and a better future for our country." The plans come amidst increasing anxiety about an overly inflated housing market with prices soaring to new heights. Fears of a boom and bust cycle remain with most observers adamant that something has to give. The numbers of people falling victim to bankruptcy in the UK is at an al time high with many providers offering additional debt products such as IVA's.  

His comments follow the chancellor Alistair Darling's recognition that the lack of affordable housing has become a serious political issue. The housing Bill would see a majority of developments would take place on brownfield developments, while new building projects would have a minimal environmental impact. Ministry of Defence land will also be freed up to allow for maximum benefit to be gained from available and currently dormant sites

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