How U.K.’s Austerity Cost London 6,300 Affordable Homes

London’s affordable housing investment will pay for about 15 percent fewer properties than it would have three years ago because of soaring construction costs, consulting firm EC Harris LLP said. The city government will spend £1.25 billion constructing 45,000 affordable homes in London up to 2018. If it had been invested in 2012, when the construction market was at a low point, the money London is spending now would have built 6,300 extra homes and created 2,000 jobs a year. Read more on the Bloomberg website.