Bank of England governor visits Midlands housing group

The Bank of England (BoE) governor, Andrew Bailey, visited the head office of regional housing and care provider, emh group, during a recent visit to the East Midlands.

Bailey chose to visit emh as an established regional employer and key partner to Homes England, which works in over 50 local authorities, to understand its impact as a place-based social housing and care provider.

The governor met with emh’s group chief executive Chan Kataria, and other members of the executive management Team. Discussions included the group’s investment in communities, how the organisation works to tackle homelessness, and its ambitions to build 500 much needed new homes per year ,while continuing to invest in its existing homes to meet higher energy efficiency standards.

Also discussed were the challenges faced by the sector, including the impact of inflation on development and maintenance costs, the cost-of-living pressures faced by residents, and the need for certainty over future rent policy.

Bailey said: “It is essential that the Bank of England understands the challenges that different sectors of business are facing in the current economic environment. Tours to firms like emh group help provide that insight and I found it very useful to discuss their plans for affordable homes and care and support services in the local area.”

Kataria added: “It was a pleasure to welcome Andrew Bailey to emh, and to have the opportunity to showcase the work we do, and discuss what would help us deliver even more for communities in the East Midlands. We want to thank the governor, and his team, for engaging in informative discussions.”

Emh has recently received a credit rating of ‘A’ with a ‘stable outlook’ from Standard & Poor’s Global Rating. This rating reflects emh’s commitment to balancing investments in existing homes, providing new affordable housing in the areas that need them, and maintaining strong credit metrics in a challenging environment.

Main image: Andrew Bailey, governor of the Bank of England, and Chan Kataria, emh group chief executive

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