Housing boosted in Spring Statement

Aaron Morby 1 week ago
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Chancellor Philip Hammond has unveiled fresh packages to boost housing supply as the Government battles to meet its target of building 300,000 homes by the mid-2020s.

In a package of measures unveiled in the Spring Statement, the government will guarantee up to £3bn of borrowing by housing associations in England to support delivery of around 30,000 affordable homes.

Hammond said the Government would also release £717m from the £5.5bn Housing Infrastructure Fund to unlock up to 37,000 new homes at sites, including Old Oak Common in London, the Oxford-Cambridge Arc and Cheshire.

He also said the Government would now publish a consultation on replacing PFI.

The Infrastructure Finance consultation seeks views on how the government can best support private infrastructure investment against a background of the UK’s changing relationship with the European Investment Bank.

The Government will also release £81m to build and equip a new Extreme Photonics Centre in Oxfordshire to conduct research into next-generation super lasers.

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