Every class of property is affected in this scheme of Rebuilding Britain. All slums will definitely be cleared away, never to recur in future generations. The number of houses in a condition to demand immediate demolition total 4,607,679. In addition there are many thousands of Slum Offices, Warehouses, and Factories.
In eighty years Great Britain will be demolished and rebuilt, except historical and other special public buildings. All houses now owned by Local Authorities will be purchased at market value by Public Utility Societies and all future house building will be undertaken by Private Enterprise. If a rent subsidy is necessary it will be given to the individual and not the house.
A National Mortgage Bank will be established through which building will be financed on long-term credits. The Building Societies throughout the country will be formed into twelve units and will act as agents for the National Mortgage Bank.
Private interest in land built-up areas to be purchased over a period of eighty years as areas are being redeveloped, the land being vested in National Land Commissioners.
The total number of houses required, if the fullest advantage is taken of the opportunities which now present themselves, is 6,572,679."
Today it can be read in its historical context.
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