Opening on a familiar shot of kitchens and cake, Chief Secretary to the Treasury Liz Truss recalls her own experience of working up the property ladder in a promotional video released today (21st May).
“What I worry about now, is that it is harder for people to rent and buy in London, with people paying 50% of their income in rent,” she said.
“Later this year, the government will announce new spending plans for public services and investment, which will need to cover, at least, the 2020/21 financial year.
“How do we cut the cost of the public purse? How do we make it more affordable to provide people with homes?”
“The answer then, lies in the need to build more homes.”
Referencing the government’s Spending Review, Truss states they are currently looking at opportunities to build up in cities and introduce a zoning system that will reduce the red tape of the planning process, which “many builders struggle with”.
“There are also stations in the London Green Belt as well as brownfield land where there are opportunities to build millions of homes for people to really cut the cost of housing,” Truss added.
Image: Elizabeth Truss by Chris McAndrew