4523 Words19 Pages UK TO FACE HUGE HOME SHORTAGE BRITAIN faces a “lost decade” of housebuilding and a chronic shortage of new homes unless the Government takes action to encourage development, warns a report published today. England alone faces a shortfall of 750,000 homes by 2025 after the construction rate fell below 100,000 this year, the lowest level since the First World War, according to research by the institute for Public Policy research. To fend off a crisis the house- building industry needs to produce 250,000 new homes a year, the think tank says. In its report, called We Must Fix it, the IPPR says the growing shortfall could be tackled by reforming the industry, without the need for extra state spending. It says that firms have made trading land a bigger priority than building and calls for separating the buying and selling of land from construction, in the same way that retail and investment banking are being split. Other proposals include recording all land ownership and sales with the Land registry and applying conditions to the release of public land to encourage fast construction and cut profit margins. It also calls for a fifth of land to be earmarked for self-build projects and urges the Government to explore the prospect of a new generation of garden cities. IPPR director Nick Pearce said: “Our construction industry has for too long prioritised trading land over building homes. this has to change. “The Government’s new Housing Strategy does not make sufficient demands of the housebuilders. Instead, it offers them public land, money and guarantees without a serious ‘quid pro quo’. “The Government must demand more bang for the taxpayer’s buck – if it doesn’t, the result will be subsidised stagnation and another lost decade of housebuilding. it is now time for

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