"Housing shortage to continue": Chancellor

Thu 13th February 2014, 4:04 pm

George Osborne has told a House of Lords committee that he thinks the shortage of houses in the UK is likely to continue for another 10 years.

At an economic affairs committee session, Osborne was questioned about the housing shortage and a potential housing bubble.

He said: "I imagine if we were to assemble again in 10 years’ time we would still be talking about the challenge of making sure our housing supply keeps up with demand.

"Across the board, we are pulling a lot of levers. But this is a historic problem. I don’t pretend this problem is going to be solved in a few months or a couple of years.

"This is a big challenge for our country. We have got to build more homes."

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