Amid the back and forth during today’s Spring Statement over who really crashed Britain’s economy, the Office for Budget Responsibility (OBR) published a 180 page document that makes grim reading for Labour and anyone looking to get on the housing ladder. Labour was elected with a pledge to build 1.5 million homes during its term. Backing the builders not the blockers has become the number one priority for the current government.
That OBR document pours cold water on that ambition. It projects that 1.3 million homes will be built from now until the end of the decade. But that’s across the entire UK and Labour’s pledge only applies to England. It is likely that 1.1 million of those homes will be built in England, leaving Labour 400,000 homes short of their goal. That 400,000 is the same number of homes as in Milton Keynes, Newcastle, and Plymouth combined.
Even worse for Labour, the OBR doesn’t seem to give them much credit for the reforms they’ve made so far.
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