Chief Executive's blog
A blog written by our Chief Executive, David Montague. Each month David reflects on events at L&Q and in the housing sector, and offers his opinions on current and future events.
About David Montague
David Montague has been chief executive of L&Q since February 2008. He has been with L&Q since 1989 and served as Group Director of Finance before his current appointment.
David is a Fellow of the Association of Chartered Certified Accountants and writes and lectures on social housing and business planning issues.
Today the English housing survey reported that home ownership has fallen to 65%, its lowest level since 1987, and private renting has overtaken social renting.
I was delighted to hear this morning that Government is considering two new garden cities, one in Buckinghamshire and one in Kent. But if garden cities get the green light there are three big challenges ahead - plenty of opposition, no more money and we need them now.
Chancellor George Osborne is planning a further £25 billion public spending cuts which could come from government departments or from the welfare budget. On the previous day David Cameron promised to protect pensions, so George's options are limited.
In February 2007 Professor John Hills published "Ends and Means; the Future Roles of Social Housing in England". His report claimed that social housing played a crucial role in the lives of four million households in England offering security, stability and a level of quality and affordability that private sector tenants didn't enjoy. Then the World fell over, six years on how are we doing against Hills' four priorities?
We saw quite a few housing related announcements in last weeks Autumn Statement, one left me puzzled – the overall cap on welfare spending.