As part of its "new settlement" on housing, Powell stated that the plans would include a massive increase in council and social homes, fit for all ages.
Powell stated that she saw no contradiction in her party also promoting homeownership for ordinary working people. Under the new plans, first time buyers would have the chance ahead of others to purchase new build housing, ending the practice of foreign hedge funds purchasing swathes of new homes, off-plan.
She pledged that Labour would build more “truly affordable" homes and said that the party intends to hand local authorities new powers to buy and develop land for housing. This could help generate up to 100,000 new homes a year, according to Powell.
On the affordability issue, she stated: “For too long, speculators and developers have held most of the cards – ducking minimal commitments, extracting huge value from the public for land, and doing too little for first-time buyers and local people.”
She said Labour would reform rules governing developer contributions to affordable housing. And the party would redefine the definition of affordable housing to be linked to local wages.
If Labour were to gain power, the party would also wish to establish a Building Works Agency to assess, fix, fund and certify all tall buildings. The agency would “pursue those responsible for costs,” Powell stated, with leaseholders not having to pay for building safety work by law.
Powell said: “We aren’t afraid to take on the tough challenges that our New Settlement demands.
“We will be bold, radical, forward-thinking, and empowering.”
