Question: A specific policy is described below, based o measures that have been introduced or proposed in the UK, in response to a chronic shortage of

A specific policy is described below, based o measures that have been introduced or proposed in the UK, in response to a chronic shortage of affordable houses in many regions.

Explain, using the 'demand-and-supply' model, the likely impact of this policy on the equilibrium quantity and price of houses, and how this might affect the UK's affordable housing shortage.

Policy: Advice is given to the government to allocate more land for housing development, simplify procedures for planning permission, take more account of local housing need in deciding on planning applications, and make regulation on land use more effective through giving more freedom for housebuilders to choose the sites to develop

(Student Notes: It is advisable to assign at least one paragraph to each of the extracts - explaining how the policy is likely to change the equilibrium quantity of homes sold and their equilibrium price, through its effect on the supply curve and/or the demand curve. Make sure you distinguish, where relevant, between movements along a curve and shifts in one of these curves.)

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