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Housing Finance and Economics – Evaluating New Labour’s Housing Policy - Coursework Example
This paper talks about the economic concept of social housing and practical implementation of the idea in the United Kingdom, following the New Deal adoption in 1997. It also outlines major changes to the housing policy of the British government, associated with new ruling coalition administration…
The paper brings forth the economic evaluation of the housing policies of New Deal after 1997
and considers alongside the economic factors influencing the housing system after the coalition administration came to power since 2010. The main purpose of providing social housing is to provide houses which are within the range of affordability for the individuals with low income levels. This segment is monitored such that rents are kept at low levels. This sector is different from that of private landlords where the choice of the later dominates. Here, houses are allocated according to needs and the social landlords state in advance the criterion on the basis of which the allocation is done on a rational ground. They might have a policy of alteration at any time as per the decision of the landlord.
The New Labor administration brought about the issue of housing within the jurisdiction of social inclusion, as the government announces its goal of providing each citizen “the opportunity of a decent home and so promote social cohesion, well-being and self-dependence”
The Welfare Reform Bill will help in shoving the individuals from benefits towards jobs.In fact the modern coalition government’s scheme supports the people with economic and social priorities instead of medical reasons or problems of homelessness. The programs undertaken by the government was led by financial and economic motives rather than social cause though the existing tenants are promised more fairness and satisfaction.