A nationally respected housing developer has decided to tell it like it is: the huge financial burden of affordable social housing cannot be born alone by one business sector — the housing construction industry.
Public/Private partnerships result in a modest government subsidy for affordable building costs. The rest of the costs are somehow expected to be borne by the developer alone. As results have shown over the last few years, this funding model simply doesn’t deliver the amount of housing necessary to tackle an increasingly severe housing crisis.
The proposed solution? Higher taxes for corporations and direct government funding of social housing. Read more in The Guardian: Social housing funding system is ‘nuts’, says top property developer
