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Wed Jul 1 11:40:50 BST 2009
Government unveils Â£1.5 billion housing boost
Jamie Carpenter, Regen.net, 29 June 2009
An extra Â£1.5 billion will be invested over the next two years in a series of measures to build an additional 20,000 affordable homes to rent or buy, the Prime Minister announced this afternoon.
Setting out the Governmentâs draft legislative programme, Gordon Brown said that the funding package would enable local authorities to build 3,000 extra council homes over the next two years.
The Prime Minister said that the existing affordable housing programme would be expanded so that housing associations could build up to 12,500 additional affordable homes.
The Kickstart scheme, which was announced in Aprilâs Budget to unlock development on stalled sites, will be expanded to deliver an extra 13,000 homes, of which 4,000 would be affordable, Brown said.
The Prime Minister added that investment would be made in the development of land owned by housing and regeneration quango the Homes & Communities Agency in order to build 1,250 new homes, of which 500 would be affordable.
The cash is on top of the HCAâs Â£8 billion budget for 2008-11 and in addition to the Â£500 million to boost the housing market announced in Aprilâs Budget.
Funding has been switched from other departmental budgets. Earlier today, press reports suggested that the money had been raided from the coffers of the Home Office and the Department for Transport.
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