Housing Associations Surplus - £2.4 billion this year
Housing Associations – another record suplus
The newly published global accounts of the sector for 2013/14 show an aggregate surplus of some £2.4bn. Surpluses have risen over the last three: £1.1bn, 1.8bn and £1.9bn according to the HCA (Homes and Communities Agency).
Housing staff facing a squeeze on their living standards will expect improved pay and can see that this is a perfectly affordable expectation. Unite will support members in ensuring that they achieve reasonable pay settlements.
We know that Housing Association chief executives awarded themselves inflation busting pay increases and improved pension arrangements. We also know that many associations have squeezed staff pay, as the chair of the HCA regulation committee, Julian Ashby, acknowledges in his analysis of the surplus in Inside Housing magazine. We also know that while there are always financial challenges ahead for any business, commentators agree that the financial prospects for the sector are positive. For example see here.
It is time for housing associations to do the right thing by their staff on pay.
For more on pay in the sector see here
Our leaflet on Fighting and winning pay claims is here