Party’s manifesto also calls for devolution of housing benefit to boost social housing delivery
The Scottish National Party (SNP) has pledged to push for changes to fiscal rules to allow more investment in infrastucture, in its general election manifesto.
The party wants current fiscal rules in Westminster to be overhauled and replaced with new ones to enable increased capital investment.
It said: “The UK Government must abandon the current trajectory and recognise the value of investing in national infrastructure”
It is proposing introducing a public sector net worth rule, which it said would “recognise the value of investing in infrastructure and public sector assets”. It is calling for the introduction of detailed three-year spending plans and an upper limit on debt servicing costs.
SNP has pledged to reverse the estimated £1.3bn cut from Scotland’s capital budget by 2027/28 in the UK spring budget
The party also believes devolving housing benefit and Local Housing Allowance to the Scottish Government would allow to be more innovative in tackling child poverty, as well as boosting social housing delivery and encourage investment in housebuilding.
The party also wants to scrap the ‘bedroom tax’, under which tenants deemed to have a spare bedroom have their housing benefit reduced, combine the Warm Home Discount and Energy Company Obligation to create a ‘flexible fuel poverty scheme.’
It also pledging to reintroduce a “simplified” Help to Buy ISA.
Election focus
With the general election fast approaching, the UK is facing some serious problems.
Low growth, flatlining productivity, question marks over net zero funding and capability, skills shortages and a worsening housing crisis all amount to a daunting in-tray for the next government.
This election therefore comes with very high stakes for the built environment and the economy as a whole. Building’s coverage aims to help the industry understand the issues and amplify construction’s voice so that the parties hear it loud and clear.
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