Housing secretary Steve Reed said his job is “on the line” if Labour fails to build 1.5 million new homes before the next election.  

The housebuilding pledge, along with plans to greenlight 150 major projects over the next five years, is a key part of the government’s plans to kickstart the economy. 

“My job should be on the line if I fail to meet my target,” Reed (pictured) said in an interview with BBC’s Panorama. “I expect to be held to account.”

The housing secretary said he “absolutely” expects to meet the target, adding that the broad scepticism at the ambitious target would make “celebration all the sweeter” when he hit it. 

Over the previous five years, the UK built around 1 million new homes. 

However, Home Builders Federation chief executive Neil Jefferson warned that the government’s target was “looking increasingly distant,” due to a slow planning process, environmental regulations and skill shortages. 

He said that housebuilding is “flatlining” at about 200,000 new homes a year, instead of the 300,000 annually required by the target. 

The Office for Budget Responsibility also forecasts the government will miss the target, adding around 1.3 million new homes by the end of this parliament, in its March report. 

This would boost the economy by 0.2% by 2030, or around £6.8bn, the public finances watchdog added. 

The government hopes its flagship Planning and Infrastructure Bill will sweep away a range of restrictions that currently hold up new projects. 

The Bill moves to its report stage in the House of Lords today, after clearing its third reading in the House of Commons in June. 

The government says the legislation is on track “to become law this year”.    

Last week, Chancellor Rachel Reeves said: “The outdated planning system has been gummed up by burdensome bureaucracy and held to ransom by blockers for too long.    

“Our pro-growth planning bill shows we are serious about cutting red tape to get Britain building again, backing the builders not the blockers to speed up projects and show investors that we are a country that gets spades in the ground and our economy growing.”   

Reed took over the key role in September after former housing secretary and Deputy Prime Minister Angela Rayner resigned from her posts, after it emerged she had underpaid around £40,000 in stamp duty on a second home.   

Panorama: The race to build 1.5 million homes, airs tonight at 8pm on BBC One.