The Future of Business and Housing in Gloucestershire

In just a few days' time, we will have a new government, and businesses look forward to a new chapter of support from Whitehall with a clear plan. Our region has seen a lack of investment in skills and in addressing core issues like transportation and housing. Tackling these issues, most of which are interlinked, requires serious investment that lasts beyond one political cycle. Realistically, it will be very difficult for businesses to see any immediate benefits from the new government. They simply want a clear plan for growth and encouragement to invest. I talk to a lot of businesses, and they consistently express a desire for stability so they can gain the confidence needed to make investments that will grow their companies and the regional economy.

Our businesses need people and need to retain those people, particularly young people with skills, who will then consider staying in Gloucestershire and bringing up a family. I believe that we urgently need more affordable housing. It is a cornerstone for growth in the local economy. The lack of affordable housing is creating wider pressures for businesses that are looking to start, invest, and grow. So, how can the government deliver this vitally needed housing in a county like Gloucestershire, where house prices are at a premium? I believe that the government could help address this challenge by loosening the borrowing restrictions placed on local authorities that want to build more council homes. I was brought up in rented council properties in South London prior to the Thatcher era, when most were then sold off.

There is no stigma in renting a council home. It will give young people the start they need in their working lives. Here in Gloucestershire, Stroud District Council has developed its own housing stock, and the process has worked well. We have six district councils in Gloucestershire, so there is a good opportunity to create local housing stock if the government just loosens those capital spending restrictions to allow them to build. Surely this is the way forward at a time when our young people simply cannot get a foot on the housing ladder due to the costs of raising enough money for a deposit. Giving councils better opportunities to build more homes makes so much sense.