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The Guardian: "Social housing funding system is 'nuts', says top property developer"

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"One of the country's top property developers has described the UK's system of funding social housing as 'nuts' and called for higher taxes to speed up building.

Roger Madelin, a member of the executive committee at British Land, told the Guardian the decades-old system of getting private developers to pay for affordable homes was 'a stupid way of meeting this social need' and that the government should directly fund them.

" 'All companies should pay higher corporation tax,' he said. 'This country needs to have more tax paid. If we did it like that we could get on and do it. It can’t work in the long term, you can't expect developers to continue to produce for the population's social needs at this level. It should come from general taxation'."

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