Councils could generate £320 billion

Councils could generate £320 billion for the UK economy over the next 50 years if they were able to build more high-quality council housing, according to the Local Government Association.

Research carried out by the LGA and Capital Economics demonstrates how new social housing benefits tax payers from returned income through rent and saves money on housing benefit payments.

Specifically, for every £1 invested in a new social home, £2.84 is contributed to the wider economy.

In addition, every new social home saves £780 per year in Housing Benefit payments.

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→ Local Government Association - Potential £320 billion windfall from new generation of high quality social housing