Sharing housing wealth
In Chapter 6 it is estimated that the cost of implementing the programme for building new homes is £7 billion annually. It is difficult to estimate what the net capital cost will be of the programme of acquisitions and sales proposed in Chapter 8 for promoting socially mixed communities, but £2 billion a year for the next five years may be a reasonable assumption. The total cost of the proposals is therefore approximately £9 billion a year, compared to £3.5 billion planned expenditure on social housing investment in 2004/5. The net additional cost therefore is £5.5 billion a year. This chapter shows how the money for this can be obtained, including how it could be achieved by re-distributing resources within the current housing system.