Government launch mission to “Get Britain Building”
With housebuilding at its lowest levels since the end of World War 2, something drastic is needed and the government hope that these proposals will give kick-start the industry.
The plans that David Cameron has to boost the housing industry include the Mortgage Indemnity Scheme, where buyers of new homes will be able to borrow up to 95% of their value, which will be supported by government guarantees.
The £400 million Get Britain Building Fund has also been launched, which will go towards resuming stalled projects, which were put on hold due to a lack of funding.
This cash has the potential to “unlock” the construction of around 16,000 new homes, which could lead to the creation of 32,000 new jobs.
The Right to Buy scheme is also set to change, with the PM promising 60% discounts on council homes, with the money going into building new housing, and leading to more new construction jobs.
The Prime Minister, speaking at the CBI conference in London today, said:
“When first-time buyers on a good salary cannot get a reasonable mortgage, the whole market grinds to a halt,” he said.
“And that ricochets around the economy, affecting builders, retailers, plumbers – all the people that depend on a housing market that is moving.
“If we don’t do something like this we are not going to get this vital market moving… We will restart the housing market and get Britain building again.”
The ramifications of the government’s plans could be huge for the construction industry, but what do you think of Cameron’s plans? Will they work? Let us know what you think and comment on here or on our Facebook page.
Posted on November 21, 2011, in construction jobs, construction news, electrician jobs, plumbing, Plumbing News, t4ts, train4tradeskills and tagged Cameron Get Britain Building, Cameron housing, construction, construction jobs, david cameron, David Cameron housing, Get Britain Building, Government, London, Mortgage Indemnity Scheme, Prime minister, right to buy, t4ts, train 4 trade skills, train4tradeskills. Bookmark the permalink. Leave a comment.