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(Issued 27 June 2013)
Home building industry body Homes for Scotland today welcomed the recent announcement by Chancellor George Osborne of increased capital spending powers for Scotland during 2015/16, while stressing the urgency of delivering ‘shovel-ready’ infrastructure projects in order to boost the country’s economic growth. The Chancellor outlined several measures aimed at saving money within his 2015/16 Spending Review, including cuts to a number of departmental budgets, whilst announcing additional capital resource for Scotland of around £296 million which can be spent on infrastructure projects. Areas previously identified by the Scottish Government as ‘shovel-ready’ include a £40m funding package for the delivery of affordable homes throughout Scotland. The news was followed by an additional statement on Thursday in which Treasury Minister Danny Alexander outlined the UK Government’s plans to spend £100bn during 2015-2020 on projects including road maintenance, new homes and boosting new sources of energy. Chief Executive Philip Hogg said: “We are pleased to note this increase in capital spending powers for Scotland and that infrastructure has been targeted as a key area of importance. “In order to make best use of this allocation, it is imperative that investment is channelled into areas which stimulate economic growth, including into the upfront infrastructure which is needed to unlock stalled housing developments across the country. “This latest announcement comes at a time when housing output has slumped to its lowest levels in 70 years, and it is estimated that 465,000 homes are needed in Scotland by 20351 to meet demand. However, recent build rates highlighted by the Scottish Government point to a potential shortfall in the region of 140,000 by this time when there are currently already significantly more people than that on housing waiting lists2. “It is therefore crucial that we do not exacerbate Scotland’s housing crisis by delaying the delivery of projects which stand to provide significant social, economic and environmental benefits to the country as a whole.” Ends Notes to Editors: 1. Scottish Government press release: http://www.scotland.gov.uk/News/Releases/2013/05/pension-funds 2. Shelter Scotland website
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