'Slim chance' government will hit 1.5m new homes target, Rayner tells BBC
High construction costs and the Iran war are threatening the key manifesto pledge, the housing secretary says.
The UK government's ambitious target to build 1.5 million new homes is facing significant challenges, according to Housing Secretary Angela Rayner. In a recent interview with the BBC, Rayner acknowledged that the goal is now a "slim chance" of being met, citing high construction costs and the ongoing conflict in Iran as major obstacles. This admission is notable, as the target was a key manifesto pledge and a central promise of the government's housing policy.
The construction industry has been grappling with rising costs and supply chain disruptions, which have made it increasingly difficult to deliver large-scale housing projects. The impact of the Iran conflict on global markets and trade is also being felt, with potential implications for the UK's construction sector. Rayner's comments suggest that the government is aware of these challenges and is preparing for a potential shortfall in its housing targets.
As the government navigates these challenges, industry stakeholders will be watching closely to see how it responds. To watch next: the government's upcoming budget announcement, which is expected to include measures to support the construction sector and address the housing shortage. Additionally, industry leaders and policymakers will likely be scrutinizing the government's revised housing targets and strategies, should they be announced, to understand how it plans to get back on track and meet its manifesto commitments.
Originally reported by bbc.co.uk. NewsChatter adds analysis for general news readers.