Government pledges £866 million for housing
Wed 14th February 2018, 2:59 pm
The Secretary of State for Housing, Communities and Local Government, Sajid Javid, and Chancellor Philip Hammond announced on 1 February that 133 projects around the country will receive funding to deliver up to 200,0000 new homes.
The money will be used to deliver key local infrastructure projects that are essential for building much-needed homes.
It represents the first wave of the £5 billion Housing Infrastructure Fund, the government’s capital grant programme, created to unlock homes in areas with the greatest housing demand.
Hammond said: "This fund finances vital infrastructure such as roads, schools and bridges, which will kick-start housing development in some of Britain’s highest-demand areas."
Some key projects that will benefit from the funding include:
- £10 million for highway infrastructure to unlock further development at the Ashton Green housing site in Leicester, helping to unlock 3,300 homes
- £10 million for construction of a bypass in Botley, Hampshire, a critical strategic road infrastructure project that will help the delivery of 1,000 new homes
Javid said: "This first wave of investment totalling £866 million will help get up to 200,000 homes off the ground, making a huge difference to communities across the country.