Nick Clegg pledges to borrow to build new housing
Published by Max Salsbury for 24dash.com in Central Government and also in Development, Finance
Clegg faces major rebellion over tuition fee hikes
Nick Clegg has said he will push to borrow money to build new housing, if the Liberal Democrats remain in power after next year's election.
During a speech in the City today, the deputy prime minister said: “Britain needs between 250,000 and 300,000 new homes every year to meet demand. We’re not building anywhere near that."
He went on to claim that his Tory coalition partners "show no sign at all of understanding the enormity of the problem and the radicalism of the solution needed".
The Lib Dem leader said that borrowing money to build new homes would also boost the economy.
Clegg said: “Let’s break the taboo, certainly that exists in the Conservative Party, of doing the necessary to build the houses we need.
“This is now emerging as one of the big long-term structural problems with the economy. Not only is it unfair because it prices young people out of the market altogether, it’s actually a threat to the systemic stability of our financial system.”
READ NEXT »