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CBI boss hails benefits of social housing to local economy

CBI CEO Rain Newton-Smith highlighted the economic benefits social housing brings to the North East during a visit to Karbon Homes' Byker estate.
Byker visit 1

Ms Newton-Smith took a tour of the iconic Grade II listed estate, along with a group of CBI colleagues, where she heard about plans for the development of new social homes, a programme of environmental improvements, and refurbishment and decarbonisation of homes. She also heard how Karbon Homes is supporting residents into employment by funding paid placements with local employers.

Rain Newton-Smith, CBI CEO, said: ““It was great to visit the Byker Estate and meet with the team from Karbon Homes. The housing sector forms a crucial part both of the UK’s economy and our growth journey ahead. To turbocharge our prospects, we need to remove the roadblocks in the way of accelerating business efforts to grow the economy – for example, through planning reform. Supporting firms and their brilliant work, like that of Karbon Homes, is vital if we are to fully harness the UK’s potential.”

Charlotte Carpenter, Executive Director, Growth and Business Development, Karbon Homes said: “We were delighted to host a visit from CBI colleagues which enabled us to demonstrate our contribution to inclusive growth in the region and our plans to continue to invest in the local economy and support local residents.

“We believe social housing providers like ourselves are well-placed to create sustainable growth in areas that haven’t benefitted from regeneration investment in the past and we will continue to do that in the long term.”

It’s estimated by the Local Government Association that every £1 invested in a new social home generates £2.84 in the wider economy. Added to that, social housing brings investment in environmental upgrades which boosts the associated supply chain, and helps local businesses grow by investing in the skills of potential employees.

 

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