Would the Conservatives' plan make new houses £50,000 cheaper?
Summary
The Conservative Party says it will cut £50,000 from the cost of building a new home in England and Wales by removing certain rules and taxes. Experts say while some costs might fall, these changes could raise government spending later and increase household energy bills.Key Facts
- The Conservatives want to lower new house prices by cutting regulations like the Community Infrastructure Levy, Future Homes Standard, and Section 106 requirements.
- The Community Infrastructure Levy helps pay for local infrastructure like roads and schools.
- The Future Homes Standard requires houses to be energy efficient and use low-carbon heating.
- Section 106 requires developers to include affordable housing in new projects.
- The Home Builders Federation says regulations and taxes added around £42,000 to house building costs, excluding material and labor price rises.
- Regulations, taxes, and inflation together increased the cost of building a new home by £76,000 since 2020.
- Experts warn that cutting regulations might increase costs for schools, roads, and affordable housing in the future.
- Reducing environmental rules could lead to higher energy bills for households later.
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