Marley Miller
@marleygmiller.bsky.social
Associate Director, Politics and Public Policy, Global Counsel. Former economic advisor to Rachel Reeves and Treasury official. Posts mainly about housing, energy and economic policy
Amazing to see the government announce the National Housing Bank that we called for.
This could be a transformational tool for attracting private investment into affordable housing.
And will be key for delivering 1.5 million homes this Parliament.
This could be a transformational tool for attracting private investment into affordable housing.
And will be key for delivering 1.5 million homes this Parliament.
June 18, 2025 at 12:31 PM
Amazing to see the government announce the National Housing Bank that we called for.
This could be a transformational tool for attracting private investment into affordable housing.
And will be key for delivering 1.5 million homes this Parliament.
This could be a transformational tool for attracting private investment into affordable housing.
And will be key for delivering 1.5 million homes this Parliament.
🏡Fantastic to see our proposal to give Homes England a new 'affordable housing bank' role in the Spending Review
This will be vital for attracting investment into affordable housing
And means the new £39bn Affordable Homes Programme can focus more on social rent homes to maximise affordability
This will be vital for attracting investment into affordable housing
And means the new £39bn Affordable Homes Programme can focus more on social rent homes to maximise affordability
June 12, 2025 at 4:35 PM
🏡Fantastic to see our proposal to give Homes England a new 'affordable housing bank' role in the Spending Review
This will be vital for attracting investment into affordable housing
And means the new £39bn Affordable Homes Programme can focus more on social rent homes to maximise affordability
This will be vital for attracting investment into affordable housing
And means the new £39bn Affordable Homes Programme can focus more on social rent homes to maximise affordability
Greater Manchester has also recently established similar approach to invest in housing for key workers.
💡The opportunity now is for the govt to scale this up to a national approach to ramp up housebuilding (11/12)
💡The opportunity now is for the govt to scale this up to a national approach to ramp up housebuilding (11/12)
May 23, 2025 at 12:07 PM
Greater Manchester has also recently established similar approach to invest in housing for key workers.
💡The opportunity now is for the govt to scale this up to a national approach to ramp up housebuilding (11/12)
💡The opportunity now is for the govt to scale this up to a national approach to ramp up housebuilding (11/12)
To do this, Homes England should be given a “National Affordable Housing Bank” role:
With funding to invest in affordable housing funds if they can demonstrate they will deliver certain levels of affordable homes and can leverage wider private investment into projects (8/12)
With funding to invest in affordable housing funds if they can demonstrate they will deliver certain levels of affordable homes and can leverage wider private investment into projects (8/12)
May 23, 2025 at 12:07 PM
To do this, Homes England should be given a “National Affordable Housing Bank” role:
With funding to invest in affordable housing funds if they can demonstrate they will deliver certain levels of affordable homes and can leverage wider private investment into projects (8/12)
With funding to invest in affordable housing funds if they can demonstrate they will deliver certain levels of affordable homes and can leverage wider private investment into projects (8/12)
🪙The govt should use this change to invest in funds set up to deliver affordable housing at a low fiscal cost.
Using low-interest loans can turn market-rate rental housing into affordable rent.
Equity investment can attract private investment, incl from pension funds (7/12)
Using low-interest loans can turn market-rate rental housing into affordable rent.
Equity investment can attract private investment, incl from pension funds (7/12)
May 23, 2025 at 12:07 PM
🪙The govt should use this change to invest in funds set up to deliver affordable housing at a low fiscal cost.
Using low-interest loans can turn market-rate rental housing into affordable rent.
Equity investment can attract private investment, incl from pension funds (7/12)
Using low-interest loans can turn market-rate rental housing into affordable rent.
Equity investment can attract private investment, incl from pension funds (7/12)
The government’s planning reforms are a great start.
Higher housing targets will increase local authority ambition and the grey belt reforms will bring more land into the system.
Yet, the government is still forecast to fall short of its 1.5 million homes target (4/12)
Higher housing targets will increase local authority ambition and the grey belt reforms will bring more land into the system.
Yet, the government is still forecast to fall short of its 1.5 million homes target (4/12)
May 23, 2025 at 12:07 PM
The government’s planning reforms are a great start.
Higher housing targets will increase local authority ambition and the grey belt reforms will bring more land into the system.
Yet, the government is still forecast to fall short of its 1.5 million homes target (4/12)
Higher housing targets will increase local authority ambition and the grey belt reforms will bring more land into the system.
Yet, the government is still forecast to fall short of its 1.5 million homes target (4/12)
Housebuilding rates are at the lowest levels since the pandemic, due to high interest rates and increased borrowing costs.
40% fewer projects were started last year than the year before – with a similar number now as after the financial crisis (2/12)
40% fewer projects were started last year than the year before – with a similar number now as after the financial crisis (2/12)
May 23, 2025 at 12:07 PM
Housebuilding rates are at the lowest levels since the pandemic, due to high interest rates and increased borrowing costs.
40% fewer projects were started last year than the year before – with a similar number now as after the financial crisis (2/12)
40% fewer projects were started last year than the year before – with a similar number now as after the financial crisis (2/12)
Great to see increased weight put on affordability in latest tweaks to housing need formula - will direct house building to where it’s needed most.
Changes at regional level vs method consulted on are here.
Main point is that target is 9,000 higher in London and SE.
Changes at regional level vs method consulted on are here.
Main point is that target is 9,000 higher in London and SE.
December 12, 2024 at 12:46 PM
Great to see increased weight put on affordability in latest tweaks to housing need formula - will direct house building to where it’s needed most.
Changes at regional level vs method consulted on are here.
Main point is that target is 9,000 higher in London and SE.
Changes at regional level vs method consulted on are here.
Main point is that target is 9,000 higher in London and SE.
4. And with little evidence of a long-term plan for public investment, the construction sector has reduced its headcount – down 340,000 workers since 2019 (13% of its workforce).
October 10, 2024 at 4:12 PM
4. And with little evidence of a long-term plan for public investment, the construction sector has reduced its headcount – down 340,000 workers since 2019 (13% of its workforce).
3. As a result, we face much higher costs for the same projects than our international peers. For instance, it has cost Germany – which has a steady programme of rail electrification – 30-60% less than the UK for every KM of track electrified.
October 10, 2024 at 4:11 PM
3. As a result, we face much higher costs for the same projects than our international peers. For instance, it has cost Germany – which has a steady programme of rail electrification – 30-60% less than the UK for every KM of track electrified.
2. NIC calls out last govt’s plans to cut investment over next decade as *a signal to industry of a lack of long-term plan*. 📈They say govt needs a long-term pipeline with clear priorities to unlock investment and enable construction sector to build capacity.
October 10, 2024 at 4:11 PM
2. NIC calls out last govt’s plans to cut investment over next decade as *a signal to industry of a lack of long-term plan*. 📈They say govt needs a long-term pipeline with clear priorities to unlock investment and enable construction sector to build capacity.
🏗️Excellent report from NIC on why it’s become so costly to build infrastructure in the UK.
1. Key reason: a lack of strategic direction. They show the UK has the most volatile public investment levels across the G7 – which has reduced the supply chain’s confidence to invest.
1. Key reason: a lack of strategic direction. They show the UK has the most volatile public investment levels across the G7 – which has reduced the supply chain’s confidence to invest.
October 10, 2024 at 4:10 PM
🏗️Excellent report from NIC on why it’s become so costly to build infrastructure in the UK.
1. Key reason: a lack of strategic direction. They show the UK has the most volatile public investment levels across the G7 – which has reduced the supply chain’s confidence to invest.
1. Key reason: a lack of strategic direction. They show the UK has the most volatile public investment levels across the G7 – which has reduced the supply chain’s confidence to invest.
7. It will be interesting to see how the OBR revise their forecast to account for historic changes to investment, including cuts during austerity under the previous govt.
September 3, 2024 at 11:29 AM
7. It will be interesting to see how the OBR revise their forecast to account for historic changes to investment, including cuts during austerity under the previous govt.
6. As govt increases day-to-day spend (e.g. on higher public sector wages), it's fiscal rule to balance the current budget is more likely to bind. This could leave extra space for investment, so long as it meets 2nd fiscal rule to have debt falling in 5th year of forecast
September 3, 2024 at 11:29 AM
6. As govt increases day-to-day spend (e.g. on higher public sector wages), it's fiscal rule to balance the current budget is more likely to bind. This could leave extra space for investment, so long as it meets 2nd fiscal rule to have debt falling in 5th year of forecast
3. This supports case for early investment. OBR say over time investments are fiscally neutral: they pay for themselves by driving growth, which is taxed. In near term, if govt invests £5bn per yr more, they get around £750m per yr back in taxes in 5yrs, by 10 yrs its £1.8bn, increasing over time
September 3, 2024 at 11:27 AM
3. This supports case for early investment. OBR say over time investments are fiscally neutral: they pay for themselves by driving growth, which is taxed. In near term, if govt invests £5bn per yr more, they get around £750m per yr back in taxes in 5yrs, by 10 yrs its £1.8bn, increasing over time
2. A higher % of ppl would prefer govt met housing shortage through expanding existing settlements rather than new towns
3. But looking at breakdowns. Those bearing highest costs of housing crisis are happier to live in new towns - young people (45%) and renters (40%) (2/3)
3. But looking at breakdowns. Those bearing highest costs of housing crisis are happier to live in new towns - young people (45%) and renters (40%) (2/3)
September 2, 2024 at 1:34 PM
2. A higher % of ppl would prefer govt met housing shortage through expanding existing settlements rather than new towns
3. But looking at breakdowns. Those bearing highest costs of housing crisis are happier to live in new towns - young people (45%) and renters (40%) (2/3)
3. But looking at breakdowns. Those bearing highest costs of housing crisis are happier to live in new towns - young people (45%) and renters (40%) (2/3)
Our latest polling suggests the government will have more of an uphill battle than expected to deliver its new towns agenda:
1. While most people think new towns would reduce pressure on existing towns and cities, only a 1/3 of people would want to live in or visit them. (1/3)
1. While most people think new towns would reduce pressure on existing towns and cities, only a 1/3 of people would want to live in or visit them. (1/3)
September 2, 2024 at 1:10 PM
Our latest polling suggests the government will have more of an uphill battle than expected to deliver its new towns agenda:
1. While most people think new towns would reduce pressure on existing towns and cities, only a 1/3 of people would want to live in or visit them. (1/3)
1. While most people think new towns would reduce pressure on existing towns and cities, only a 1/3 of people would want to live in or visit them. (1/3)
6. Those with least stretching targets are spread more evenly across the country and again mainly Labour (partly a result of having a landslide victory…) (6/8)
August 9, 2024 at 5:37 PM
6. Those with least stretching targets are spread more evenly across the country and again mainly Labour (partly a result of having a landslide victory…) (6/8)
5. Ranking seats against recent housing delivery changes the picture entirely. Seats with most stretching targets are majority Lab and largely in LDN & SE, incl the PM’s seat (though in practice housing need will be allocated strategically across boroughs in next LDN Plan) (5/8)
August 9, 2024 at 5:35 PM
5. Ranking seats against recent housing delivery changes the picture entirely. Seats with most stretching targets are majority Lab and largely in LDN & SE, incl the PM’s seat (though in practice housing need will be allocated strategically across boroughs in next LDN Plan) (5/8)
4. Bottom 20 MPs who see their targets fall also almost all Lab (exception Chris Philp). These are heavily focused in LDN & Coventry where the current method requires triple the no. of homes being built and is clearly undeliverable (even recognising LDN needs to build more) (4/8)
August 9, 2024 at 5:34 PM
4. Bottom 20 MPs who see their targets fall also almost all Lab (exception Chris Philp). These are heavily focused in LDN & Coventry where the current method requires triple the no. of homes being built and is clearly undeliverable (even recognising LDN needs to build more) (4/8)
3. Of 20 MPs facing the biggest increase in targets - 3/4 are Lab, almost all in North. Many are already building way over their targets, like Redcar (current method says just 45 homes needed a yr but >400 are being built) but others eg Blackpool will be more challenging (3/8)
August 9, 2024 at 5:33 PM
3. Of 20 MPs facing the biggest increase in targets - 3/4 are Lab, almost all in North. Many are already building way over their targets, like Redcar (current method says just 45 homes needed a yr but >400 are being built) but others eg Blackpool will be more challenging (3/8)