Lib Dems: We want a million low cost homes by 2020

19 June 2007
The Liberal Democrats have said they want a million socially rented, affordable and low cost” homes built by 2020.

Party leader, Sir Menzies Campbell, did not explain how the target would be achieved, but on announcing the target, he said “innovative and imaginative solutions” are needed.

The proposals include the building of 100,000 new, affordable, social and low cost homes each year, introducing equity mortgages and cutting VAT on housing renovation and repairs.

The Lib Dems also want to see social housing integrated with private housing.

“House prices have grown at almost four times the rate of earnings, whilst mortgage

debt has grown by 150%,” said Sir Campbell.

“Fewer and fewer young people can get a foot on the housing ladder” he said, “and I am proposing the UK’s most ambitious home-building programme in over quarter of a century.”

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