This investment, from the Housing Infrastructure Fund, will pay for roads, schools, public transport and utilities in the Midlands, East of England and South East.

Chancellor Sajid Javid said: “When I was housing secretary I set this fund up to help ensure homes can be built in areas that need it the most, and enable people to live where they want.

“I have now launched an infrastructure revolution and this step-change in funding will ensure that all parts of the country benefit as we level-up opportunities.”

Oxfordshire County Council will receive the largest slice of the cash, with £102m to build 5,050 homes.

A further £52m will also go to Surrey County Council to pay for a water treatment facility and 1,500 homes.

Local authorities in Suffolk, Leicestershire, Rutland and Kent are also set to benefit from the cash handout.