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Housing Seminar: Partnerships with the Public Sector – Avoiding the pitfalls
Thu 31 May 2012
Minerva House, 5 Montague Close, London, SE1 9BB
Cash incentives could reduce burden on social housing, says thinktank
Tue 31 Aug 2010
A new report from the Policy Exchange thinktank has recommended a system of cash incentives to give people more control over new housing developments.
Entitled Making housing affordable, the report suggests local residents should be balloted over new property projects, instead of leaving the decision in the hands of local planning authorities.
Under the new system, house-builders would be allowed to offer financial incentives to people already living near a prospective development.
According to the Policy Exchange, the change would ultimately make homes more affordable for new buyers and reduce the burden of oversubscribed social housing waiting lists.
Editor of the report Natalie Evans said existing housing policy is "not sustainable" in light of the strain on public finances.
"The reforms outlined in this report to social housing and the planning system would save up to £20 billion a year," she commented.
Ms Evans said the number of social housing tenants will be reduced if property prices remain stable, which can be achieved by making it easier for new homes to be built.
The government unveiled its New Homes Bonus scheme to ease the shortage earlier this month, offering local authorities extra money for each newly-built property in their area.
