Response to the Budget 2013 from Geeta Nanda, CEO, Thames Valley Housing

Geeta Nanda, CEO of Thames Valley Housing, said:

“It is good to see housing featuring significantly in the Budget, as we all know that for every 100,000 homes built, GDP can be boosted by 1% and around 150,000 new jobs will be supported. This Budget was clearly a boost to home ownership and that is to be welcomed for the many people unable to buy due to mortgage restrictions. We were pleased to see that there was also a boost to the Build to Rent fund for market rent, with support for development finance for building new homes.

The additional money for affordable housing up to 2015 is welcomed, although Housing Associations are still waiting on the promise of certainty beyond 2015. Unless that certainty comes quickly we will be facing a cliff edge for those who are unable to access home ownership or pay market rents. In order to ensure that this does not happen we need certainty quickly, as well as more efforts on releasing public land.

What was not addressed in the Budget was the crisis that exists for the 1.8 million people on social housing waiting lists, and those who are being made homeless every day. We would like to have seen something on increasing the debt caps for local authorities, which would allow them to borrow to build more homes. This would help them to respond to the housing need that they still have a duty towards.”

– Ends –

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