economy
'It just won't happen!' Labour 'to miss crucial manifesto promise due to Net Zero'
Home Alone and Rocky Horror Picture Show star Tim Curry dies aged 80
TL;DR
- Labour's target of 1.5 million new homes is predicted to be missed by over 560,000, with only 940,000 expected in five years.
- Professor Noble Francis, economics director at the Construction Products Association, warns that cumulative costs from Net Zero and other regulations are destroying the viability of housebuilding.
- Housebuilding has fallen for three consecutive years, with a further 9% drop forecast for 2026/27.
- High industrial energy prices are increasing the cost of producing building materials, with energy-intensive products and imports seeing double-digit price hikes.
- The CPA calls for a temporary reduction in government taxation on industrial energy prices, stating that measures due in April 2027 are too late for current manufacturers.
- A government spokesman stated that £39 billion is being invested in council, social, and affordable housing, and reforms have led to a 15% increase in housing starts.