Ellie Ames 23 August 2023

Investment in home improvements could create £10bn boost

Investment in home improvements could create £10bn boost image
Image: Alberto Masnovo / Shutterstock.com.

The Government could create a £10bn annual economic boost by spending a ‘tiny fraction’ of housing funding recently returned to the Treasury on improving the nation’s homes, according to a new report.

By spending £625m annually, Whitehall could improve the safety, heating and accessibility of 520,000 homes a year, while creating 100,000 jobs, the report by the Centre for Ageing Better and cross-party think tank Demos argues.

It says the proposed expenditure, equivalent to less than a third of the £1.9bn the Department for Levelling Up, Housing and Communities handed back last month because of a lack of projects to fund, would deliver a 16-fold return on investment for the Government.

According to the report, there are 3.5 million homes in England that pose a serious threat to occupants’ health and safety because of trip hazards, a lack of adequate facilities, and dangerous levels of cold and damp.

Dr Carole Easton, chief executive at the Centre for Ageing Better, said: ‘Stimulating a mass expansion of home improvement work nationwide would mean hundreds of thousands of people happier and healthier in homes that are safe and energy efficient.

‘It would mean reducing the strain on health and social care services. It would mean stimulating economic growth by creating new jobs, skills, apprenticeships and investment opportunities while saving hard-pressed households’ money.

‘It would deliver towards Net Zero obligations without financially penalising the individual or asking for significant lifestyle sacrifices. Few policy options open to government can offer so much for so little.’

SIGN UP
For your free daily news bulletin
Highways jobs

Educational Psychologist

The Royal Borough of Kensington & Chelsea Council
£57072 - £58072 per annum
We are looking for qualified and HCPC registered Educational Psychologists or Year 3 Trainee Educational Psychologists to join our thriving, progressi England, London, City of London
Recuriter: The Royal Borough of Kensington & Chelsea Council

Senior Educational Psychologist

The Royal Borough of Kensington & Chelsea Council
£66555 - £67555 per annum
As a result of internal promotions within our service we are looking for committed Senior Educational Psychologists to join us in our work to shape th England, London, City of London
Recuriter: The Royal Borough of Kensington & Chelsea Council

Principal Accountant

Durham County Council
£47,181 to £51,356 p.a. (Grade 13)
Durham County Council is the largest council in the North East, we have a budget of around £1.3 billion which helps us provide services to more than 5 Durham
Recuriter: Durham County Council

Mechanical Foreman

Durham County Council
£35,412 to £39,152 p.a. (Grade 9)
A vacancy has arisen within Building and Facilities Management for a Mechanical Foreman working full time 37 hours.   WHAT IS INVOLVED?    Within a co Durham
Recuriter: Durham County Council

Occupational Health Physiotherapist

Durham County Council
£40,777 to £45,091 p.a. (Grade 11)
An exciting opportunity has arisen with Durham County Council to join our well established ‘in house’ Occupational Health Service in making a positiv Durham
Recuriter: Durham County Council
Linkedin Banner