Housing: creative solutions

  Rachel Reeves’ Spring Statement on 26th March is poised to be a defining moment. We stand at a crossroads, with stark choices before us. The Chancellor must resist the siren song of austerity and instead embrace a bold vision of investment, especially in housing, and safeguard the vital safety net of welfare. The idea that we can achieve economic growth by slashing benefits and public spending is not just misguided, it’s downright dangerous. It’s a cruel delusion to think that we can starve the very people who need support the most and somehow expect the economy to flourish. Cutting wages and benefits for the poor, the old, the sick, and the disabled is not just morally reprehensible, it’s economically illiterate. It will only deepen inequality and stifle any hope of real progress. Instead of these shortsighted cuts, Reeves must prioritise investment in social housing. A decent home is not a luxury; it’s a fundamental human right. Building more social housing will not only provid...

October 2023 and the City of London sees the removal of the cap on bankers' bonuses - a few will now start to receive their Brexit Bonus. Yet this post-EU policy shift stands in stark contrast to the continued squeeze on low-income families through the Benefits Cap. While both measures involve limitations on income, they paint a worrying picture of a widening economic chasm. Proponents of the Bonus Cap lift cheer the return of London's financial clout. They argue that rainmakers deserve their golden parachutes, attracting talent and boosting the sector's competitiveness. But critics warn of a return to the casino culture that fuelled the 2008 financial crisis. Unfettered bonuses, they fear, could incentivise reckless risk-taking, leaving taxpayers on the hook for the next meltdown. Meanwhile, those on the breadline face a different kind of squeeze. The Benefits Cap, in place for a decade and applied to just under half a million households, has had a devastating effect . ...