New analysis from Scottish Labour has estimated that their proposal to build 60,000 homes per year over the next five years would support around 49,200 jobs a year. These estimates have been verified by the independent experts at the Scottish Parliament Information Centre (SPICe). Of those 60,000 homes, 45,000 would be for social rent either through councils or housing associations.
Scottish Labour will also help first time buyers save for a deposit. Under the plan, a person who currently saves through a first-time buyer ISA up to the value of £3,000 would be entitled to an additional £3,000 from a Scottish Labour Government to help toward the cost of a deposit to buy a property. Under this plan, the average couple each saving £100 a month would be able to save for a £15,000 deposit within three years.
Scottish Labour analysis suggests that by the end of the next parliament around 17,200 first-timebuyer purchases a year will benefit from our plan. The number of people helped will be higher as the majority will be couples buying their first home – both will receive help under Scottish Labour’s plan.
Scottish Labour Deputy Leader Alex Rowley said:
“Everybody deserves a home and a chance, but whether you are a private renter, a social tenant or looking to buy for the first time it has been a difficult few years.
“Getting it right on housing can be the key that unlocks so much opportunity for our country; we can tackle poverty and grow the economy by building more homes. New analysis shows that our plan to build 60,000 homes over the next five years will sustain thousands of jobs.
“The SNP Government in Edinburgh have turned a housing shortage into a housing crisis. Scotland has more than 150,000 people on social waiting lists, an unacceptable amount of private tenants living in poverty, whilst three quarters of non-owners feel they will never own a home.
“That’s why Scottish Labour is promising bold and radical action in every area ofr housing. We’ll help first time buyers save towards a deposit with £3,000 of extra support for those who put a little aside every month.
“A whole generation of young people have been left behind by austerity and Labour will give them a chance to get on in life. So many young people in Scotland are stuck in a cycle from which they can’t escape. They end up renting to save for a deposit, but the rent is so high they simply can’t put enough money away. No wonder more than half see the size of a deposit as a barrier to owning a home.
“For those living in the private rented sector we’ll ban rip off rent rises to stop bad landlords hitting tenants with unfair rent hikes.
“We’ll build a minimum of 60,000 affordable homes over the next five years, 45,000 of which will be council or housing association homes. That’s the figure that industry experts tell us we should be aiming for and it will begin to tackle Scotland’s housing crisis.
“After nearly a decade in office and a majority in parliament the SNP have been managerial on housing. Labour’s bold housing plan would build a fairer nation and a stronger Scotland.”
Photo shows Alex Rowley laying a final brick at a council house new build site in Cowdenbeath