Report reveals how stock transfer of council homes has boosted Scottish economy by billions
Creating Scotland’s biggest social landlord in 2003 boosted the Scottish economy by £2 billion and has supported thousands of jobs, a new report has revealed.
The study, by the Fraser of Allander Institute (FAI), reviewed the impact of Glasgow Housing Association’s (GHA) transfer of more than 70,000 council homes in 2003 and the building of thousands of new affordable houses and flats.
The report confirms GHA’s massive investment programme - the biggest of its kind in Europe - contributed £2 billion to Scotland’s Gross Domestic Product (GDP).
In addition, it supported an average of 2,425 full-time jobs per year, the equivalent of 36,500 years of full-time employment.
Professor Graeme Roy of the Fraser of Allander Institute said: “Our analysis examines the economic contribution of GHA through its day-to-day activities and traces the knock-on boost to the wider Glasgow and Scottish economy through its supply chain.
"We find that, for the year we study, 2016/17, GHA’s activities support around £150 million of GDP to the Scottish economy, equivalent to around 2,575 jobs. That is a substantial contribution.”
GHA’s chair, Bernadette Hewitt, said: “The transformation of social housing in Glasgow has been a key element in the resurgence of this great city over the past 15 years.
“GHA’s massive modernisation, demolition and re-provisioning programme has changed not only the Glasgow skyline, it has ensured tens of thousands of families across the city are living in modern, warm, safe and fuel-efficient homes.”
Councillor Susan Aitken, leader of Glasgow City Council, said: “These are hugely impressive figures and the contribution to the Glasgow economy by GHA’s continued and sustained housing investment cannot be under-estimated.”
GHA is the largest subsidiary of Wheatley - Scotland’s leading housing, care and property management group – and has invested almost £1.6 billion upgrading more than 70,000 homes; £285 million in building new, affordable housing in the city; and almost £70 million on community infrastructure.
