Confidential financial reports submitted to local
authorities by developers when they want to reduce their affordable housing
obligations should be made public, argue two London Labour mayoralty
candidates. The comments were made by senior Labour MPs Sadiq Khan and David
Lammy during a parliamentary debate on Housing Supply in London. The current
system allows developers to keep their justifications for reducing affordable
homes secret. With affordable housing completions at a seven year low, the
system known as financial viability, was also the subject of a packed debate
held at the Palace of Westminster last week. Housebuilders use financial
viability assessments to prove a local authority’s affordable housing target
makes their schemes uneconomic and so cut the number of units built. Read more
on the Bureau of Investigative Journalism website.
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