£625m Annual Investment In Home Accessibility Could Create Up To 100,000 Jobs
A new report from the Centre For Ageing Better and Demos has revealed that spending £625m a year to improve heating, safety, and home accessibility could create 100,000 new jobs and generate a £10bn annual economic boost
A £625m annual spending could help to improve the accessibility and safety of up to 520,000 homes a year, according to the study.
There are currently 3.5m homes in England that pose a serious threat to occupants’ health and safety because of trip hazards, lack of adequate facilities, and dangerous levels of cold and damp.
Almost one in seven homes (984,000) owned by someone aged 65 or over is classed as non-decent.
An uptake in home improvements and accessibility has the potential to drive economic growth through new jobs, apprenticeships and investment opportunities.
What policies would help to facilitate uptake in home accessibility and improvement?
- Developing a national network of local Good Home Hubs to provide a local one-stop shop for a range of home improvement, retrofit and energy efficiency schemes
- Creating a robust and enforceable housing standard
- Offering tax relief on Stamp Duty or Council Tax to help stimulate demand and create incentives
- Replicating Covid-19 loan guarantees to leverage investment for home improvement works without excessively risking public funds
- Widening the remit of Homes England beyond house building to also cover housing quality
- Developing a cross-government housing strategy with a minister responsible for implementation
- Expanding the eligibility of the Disabled Facilities Grant into a Home Adaptations Grant to cover a wider range of at-risk households
- Homes which fail to keep people safe are contributing to thousands of deaths annually
Andrew O’Brien, director of policy and impact at Demos, said: “At a time when politicians are scrambling for policies that can unlock economic growth, addressing the poor quality of British homes is a political no-brainer.
“Investing in home improvement means more jobs, higher wages and life-changing apprenticeships. It’s a political lever that can turbocharge productivity and ensure greater value for the taxpayer.”
Credit - https://www.pbctoday.co.uk/news/