25
Feb
Calls for more new homes to be built
The government should invest more money into the construction of
new homes, an alliance of housing organisations, councils and
unions has said.
The 2020 Group called on ministers to provide 100,000 new homes in
the UK by 2010 in a bid to strengthen the economy.
It stated that an investment of £6 billion is needed in the
property construction industry in order to safeguard an estimated
450,000 job losses over the next two years.
Such steps are necessary to revive the struggling economy, chair of
the group and member of the Bank of England's monetary policy
committee Kate Barker suggested.
She added that the investment would represent "excellent value in
terms of sustaining economic activity".
Yesterday, the government announced steps intended to improve the
amount of property finance available to home buyers.
It said that nationalised bank Northern Rock will increase its
mortgage lending by £14 billion by 2010.