CIH responds to Chancellor's summer economic update
Today, 8 July 2020, the Chancellor of the Exchequer delivered his summer statement in the Commons on UK economic recovery from pandemic.
In response to the statement, CIH chief executive, Gavin Smart said:
“The announcement of £50m to retrofit social housing, plus £2bn towards a new ‘green homes grant’ for lower income households is a good start, although much more investment is needed. It also brings the potential to create much-needed jobs. This must be the first step in addressing the climate change emergency and has the potential to reduce fuel poverty. Government must ensure it is followed quickly by a clear plan and resources to get the housing stock up to the targeted energy efficiency levels by 2035 - and meet the Government's firm commitment to achieve that enormous task. We're seeing just the first instalment of a promised £9.2 billion investment in the Conservative manifesto and we now look to the Spending Review in the Autumn for the Government to demonstrate a clear commitment to delivering a zero-carbon future for the nation’s housing stock.
The temporary cut in stamp duty might provide an opportunity to stimulate the housing market but, without increasing supply, this is likely to lead to an increase in already high house prices.
That’s why we need to see housing – and homes – at the heart of Government’s plans for economic recovery. The Chancellor’s Autumn Budget and Spending Review will provide an early opportunity for government to invest in new homes, including the 90,000 homes at social rents needed each year to solve our acute housing crisis.”
On the announcements regarding training, jobs and apprenticeships, Vanessa Howell, CIH head of professional standards said:
Following on from yesterday’s mini-budget, at CIH we’re pleased at some of the announcements that the Chancellor made in relation to training and apprenticeships.
The £2bn ‘kickstart’ programme to create high quality six-month work placements is a fantastic way to prevent those who are at risk of unemployment. This will help them to build their skills, gain experience and develop confidence.
At CIH, we believe apprenticeships are a great way for employers to develop their workforce but also for employees to continue to learn and grow. The new bonus announced which will give employers a further incentive to hire apprentices over the next six months is a great way to introduce new people to the sector, develop the skills and competences of individuals across the sector and equip the sector to meet the challenges being faced during these changing time
We feel more needs to be done in relation to engaging young people into careers in housing and these incentives are a positive step towards supporting this.