Mastodawn

Andy Burnham is casting round for ideas for how to fund a major increase of spending on social housing, within the current (albeit modified) fiscal rules set by Rachel Reeves;

A while ago, I proposed a social hosing bond (not unlike a war bond) that would direct savings & investment towards the sector from people looking for stable investments (and who perhaps want to see a rise in social housing).

While not fully developed you'll get the idea.

#housing #politics
https://northwestbylines.co.uk/politics/opinion/could-social-housing-bonds-be-part-of-the-answer-to-the-housing-crisis/

Could social housing bonds be part of the answer to the housing crisis?

Funding needed for social housing is massive, and this article offers a novel approach, to be known as national social housing bonds

North West Bylines | Powerful Citizen Journalism

Show thread

🐕Jun 6

@ChrisMayLA6 in Scotland our councils are busy building thousands of new council houses, funded by borrowing from the treasury at a margin over gilts, paid back out of rents, all helped by having binned right-to-buy years ago. There's usually a small contribution from Scot Gov, again effectively funded by gilts.

There's no need for Burnham to reinvent the wheel, just let English councils borrow and build again.

Show thread

GhostOnTheHalfShell

@jbenjamint @ChrisMayLA6

It’s so funny though because the central government could simply grant the money. It prints money when it writes checks that’s how our currency sovereign works. The money that’s added to the country is removed by sending checks to the treasury. Paying your taxes delete money.

Now let’s discuss who should really be paying taxes if all it does is delete money and it doesn’t pay for anything