Britain Sets out 5 Billion-Pound Homebuilding Boost

Britain launched a 5 billion-pound ($6.5 billion) homebuilding stimulus package on Monday, including plans to borrow 2 billion pounds to help address a long-term housing shortage that has become a major economic problem.

The announcement comes on the second day of the ruling Conservative Party’s annual conference, which the government is using to set out how it wants to leave the European Union and tackle social divisions exposed by the June Brexit vote.

Appealing to voters who have been shut out of the housing market by years of rising prices and tight lending conditions, the government said it wanted to spend 2 billion pounds ($2.6 billion) to boost housebuilding by using surplus public land and helping new homebuilders into the market.

Reuters

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Craig Erlam

Craig Erlam

Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam
Craig Erlam

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