State investment in council housing can actually make a
profit for the taxpayer, Jeremy Corbyn has said. The new Labour leader argued
that investment in social housing would drive down the housing benefit bill and
thus reduce the amount of money spent on benefits. Speaking to the Labour
party’s annual conference in Brighton he cited very low interest rates on
government borrowing as an indicator of it being a good time for the state to
invest. “Every mainstream economist will tell you that with interest rates so
low now is the time for public investment in infrastructure, investment in
council housing and for affordable homes to rent and to buy,” he said. Read
more n the Independent website.
