The Green Party has committed to building 500,000 social rented homes by 2020 to tackle the current housing crisis, it has been announced today.
‘Urgent action is required to address the housing crisis that sees 1.8million people on waiting lists for social housing, while ‘ghost mansions’ lie empty’, say the Greens.
Just 5% of Government expenditure is spent on building more affordable homes, which the Greens have described as a ‘disgrace’.
Families are being priced out of parts of London and other areas due to a lack of social rented homes and ‘skyrocketing private rents’.
According to the Greens, 30,000 social homes have been lost to Right To Buy since 2010 – with only a few replacements.
The Greens in Government would build 500,000 social rented homes by gradually increasing the housing budget from £1.5bn to £6n by 2017. This would be paid for by reforming landlord tax allowances, scrapping buy-to-let mortgage interest relief and removing local authority borrowing caps.
The Green Party’s Manifesto will include policies to address the housing crisis, including policies to bring empty homes back into use, a better deal for private tenants, ending Right To Buy, and action on rent levels.
Natalie Bennett, Green Party Leader, said:
“We need to move away from regarding houses as primarily financial assets and go back to regarding them as homes. This policy is an important step in that direction.
“Landlords have been receiving massive public subsidies through tax breaks and housing benefits, and this is contributing to the rising, unsustainable level of inequality in our society.
“They do not deliver enough of social and economic benefit to the rest of society to justify their favourable tax treatment: it isn’t in the interests of our common good to continue this bias towards the wealthy at the cost of those struggling to survive with high rents and often low-quality housing.”
Tom Chance, PPC for Lewisham West and Penge and Green Party Housing Spokesperson, said:
“Social housing has provided decent, affordable homes for millions of people over the past 150 years.
“After 40 years of sales, demolitions and budget cuts, the Green Party will put social housing back at the heart of housing policy.”
Caroline Lucas, Green Party MP for Brighton Pavilion, added:
“In my Brighton constituency the cost of buying a home is 44% higher than the average. That’s pushing my constituents into debt, into poor quality rented housing, and into homelessness.
“There’s no silver bullet that will magic away years of failure by successive governments to invest in ending the housing crisis, but increasing the supply of sustainably built social housing, as we are announcing today, will start to make a real difference for tenants, homeowners, and anyone wanting to buy a home.”