‘A future built in Britain, by Britain, for Britain’ - Starmer says turbocharging housing will help build a new ‘patriotic economy’

Keir Starmer pledges today to run a “patriotic economy where Britain’s interest is centre stage, and hard-working British families reap the rewards.”  The Labour leader will highlight Labour’s plans for housing as proof that he can  deliver “a future built in Britain, by Britain, for Britain.” 

On a visit with Deputy Labour leader Angela Rayner, to a housing development in the West Midlands, Keir Starmer will argue that the “core British value of working hard and getting on has been corroded” by 14 years of Conservative failure. 

He will say the Conservatives' record of 400k fewer young homeowners and Rishi Sunak's scrapping of housebuilding targets, which are set to hammer first-time buyers, are the direct symptom of the Conservative Party culture of putting party before country, costing ‘thousands of jobs and thousands of dreams.’ 

The Labour leader today argues that five Prime Ministers in 14 years is ‘not just surface level instability’ but has caused ‘a destructive undercurrent to the British economy: strangling inward investment, undercutting British workers, and undermining British business.’ 

Starmer will set out how Labour’s plans for housing will help reverse years of Tory economic decline:

1. ‘Get Britain Building’ – Turbocharge housebuilding
2. ‘Get Britain Buying’ – The rock of economic stability
3. ‘Get Britain Living’ – A fair deal for renters, leaseholders and more affordable homes

Labour’s plans form part of a new push to deliver a ‘patriotic economy’ – with good jobs, pounds back in the pockets of British workers and giving the British people a greater stake in the economy.  

In contrast, Starmer will accuse the Conservatives of making toxic choices directly against Britain’s values: the reckless gambling of Liz Truss, policies dictated by Tory factions and lack of preparedness for Brexit. The result has seen choked growth, undermined living standards and dropped a mortgage bombshell on family budgets.  

Keir Starmer, Leader of the Labour Party, said: 

“Britain's workers and Britain's interests have been failed. Living standards have plummeted, as has the traditional British belief that if you work hard, it pays. For too many people a higher wage is beyond reach, and buying a home has become a fantasy.

“My mum and dad enjoyed the stability of a home they owned and a faith that their kids would have more opportunity than they did. And it wasn’t just them, its engrained in the British psyche – you work hard, you can get on. Work will pay. Life will give you chances. 

“The Conservative Party’s economic choices run completely against those values. Meanwhile, their promises on levelling up are empty. The Tories aren’t just betting the house, they’re betting yours. 

“It’s time for change. My Labour government will be different. We’ll run a patriotic economy where Britain’s interest is centre stage, and Britain's hard working families reap the rewards.” 

Ends 

Notes 

1. The last few years has seen the biggest hit to living standards on record, whilst real wages stagnate. (source: OBR EFO) 

1. The average UK family is a tenth and fifth poorer than the average French and German family respectively. (Source: Resolution Foundation)

1. Real wages are around the same level now as they were in 2005. Weekly pay is over £230 lower than it would be if it had continued on its pre 2007 trend. (Source: Economics Observatory) 
2. Nearly half of the UK’s offshore wind capacity is owned by foreign governments. (Source: Sky News) 
3. Britain is set to have second slowest growth in the G7 this year. (Source: OECD)
4. The number of first-time buyers fell to its lowest level in a decade, whilst there are 400k fewer young homeowners than 2010. (Source: Sky News) (Source: English Housing Survey)  

Labour’s plans for housing - detail:

1. Turbocharged house building

Getting Britain building again by reforming planning laws to kickstart 1.5 million new homes, the next generation of new towns and hundreds of new planners funded by raising tax on foreign owners of UK property.

Reverse reckless Tory planning changes that have already seen new home approvals drop to a record low and is set to see housebuilding plummet. Independent analysis suggests first-time buyers will have to save nearly £9k more to afford a home due to these changes. (Source: Lichfields)

Boost homeownership for working people with a comprehensive, permanent mortgage guarantee scheme and giving local people first dibs on new homes in their area.

The biggest boost to affordable, social and council housing for a generation, strengthening the rules to prevent developers from wriggling out of their responsibilities unlocking government grants to deliver new homes.

1. The rock of economic stability

A new ‘fiscal lock’ to strengthen the role of the independent Office for Budget Responsibility, ensuring we never again see a repeat of the disastrous mini-budget that sent mortgage rates soaring.

Iron-clad fiscal rules to provide stability and certainty to our economy, businesses and homeowners.

1. A fair deal on renting, affordable housing and leasehold

Labour will not duck the difficult issues as the Tories have, Labour will deliver the biggest boost to affordable housing in a generation, protect renters by abolishing no-fault evictions immediately, and end the archaic system of leasehold as we know it. Labour is the only Party serious about boosting the supply of new homes to buy and rent.