Jeremy Corbyn: £ 75 billion for social housing

United Kingdom and Gibraltar European Union membership referendum

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It sounds perfect: more homes and apartments, lower rental and purchase prices, higher safety standards to avoid catastrophes such as the fire of the 2017 Grenfell Tower in London. And all in favor of local trades, CO2 neutral and not at the expense of green spaces.

In the run-up, Labor leader Jeremy Corbyn had announced a "radical" election program - and now presented on Thursday in Birmingham. It is in fact the most ambitious all-round program ever submitted to the British.

The party wrote for publication: "It is a program of hope." Among other things, Labor demands:

• a minimum wage of 10 pounds per hour, equivalent to 11.70 euros, for all employees (currently 4.35 to 8.21 pounds depending on age),
• a four-day week,
• the re-nationalisations of rail, post, water and energy infrastructure,
• Free broadband connection for everyone and
• £ 26 billion for the healthcare system, the equivalent of € 30 billion.

However, the party puts a special focus on the housing market. Here the situation in the kingdom is precarious. Over 1.1 million households are waiting for affordable housing, but there simply is not. In the city of London anyway, and elsewhere, the supply does not meet the demand. Not yet.

Apartments for 75 billion pounds

According to opposition leader Corbyn, in the next five years, 75 billion pounds will flow into municipal and social housing projects, the equivalent of almost 88 billion euros. He wants to launch the biggest social project since World War II:

• The municipalities should build 100,000 units with it every year, as many as last in 1977.
• Last year it was only 6,287, the second lowest since public housing construction began in 1921.

This is a shortage, which could be mitigated for the time being only partially by the advance. "The housing crisis is having a disastrous impact on millions of people in England, and we would have to build 145,000 new social housing each year if we wanted to end it," British media cite the executive director of the UK Housing Association.

The immense investment to allow the new buildings are "not only for the poorest", said the Minister of Housing from Corbyn's shadow cabinet the "Guardian".

Housing should also be created for people who do not live below the poverty line, but whose income is still insufficient to keep up with the housing market. In addition to the 100,000 municipal new buildings, 50,000 designated social housing units are to be built each year.

DPA / Joe Giddens

Let's go there: Corbyn wants to become Britain's next prime minister

Corbyn's program is determined - but is it realistic? Its funding will be half of a 150 billion transformation fund. Labor had suggested this in 2017, but missed a majority vote. The fund is to be financed by state new debt.

And he still does not cover the costs of the other proposals, from four-day week and minimum wage increase to free broadband access:

• These will cost 82.9 billion pounds in the next five years, the equivalent of just under 97 billion euros - in addition to all previously planned government spending.
• The party proposes to fully cover these additional costs through taxes - such as the introduction of a secondary residence tax, the increase of corporate and financial transaction taxes and the prosecution of tax evasion.

To enforce all this, in addition to the necessary loans, however, lacks an election victory for Labor on 12 December. Prime Minister Boris Johnson commented on the election program, saying it had no "economic credibility" because of the uncertainty inherent in the ongoing unresolved Brexit process.

Corbyn could, however, do just that, which Johnson has given up: to draw the attention of voters to topics outside of Brexit. That might be a liberation for him.

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