“… Hammond stated: “It is not acceptable to us [government] that so many fewer young Britons are able to own a home now than just 10 or 15 years ago. It is not acceptable to us that there are not enough properties to rent and that rents are sky high, and the answer is that we have to build more homes.” …”
Conservatives have been in control of housebuilding since 2010 – seven of those “10-15 years” Hammond talks about.
One of the first acts of the coalition was to put the major housebuilders in charge of re-writing planning policies. Their wishes became law in the National Planning Policy Framework – which people dubbed a “Developers’ Charter’ – and that continues to be the policy.
They also created “Help to Buy” for houses up to £600,000 – effectively handing subsidies to those same developers.