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Government issues money to get Britain building

Communities secretary Eric Pickles has announced details of a £500m fund for private developers to restart stalled housing and commercial schemes hit by site infrastructure problems.

The Growing Places Fund will provide bridging finance to get projects going, where they have halted because of problems with road access, contaminated land and flood risks.

The kick-start cash will be channelled through local enterprise partnerships across England.

To ensure work can start straight away to help get Britain building again, all cash will be allocated from the end of January.

Under the terms of the deals, funds will be repaid once developments are built and sold.

Pickles said: “The £500m Growing Places Fund will unlock much-needed local infrastructure and get the homes we need built.

“It will be local enterprise partnerships, made up of the people and businesses who know their local areas best, who will decide where this cash boost will be spent.

“I now want to see these partnerships coming together and finding innovative ways to unlock local sites and help get Britain building again.”

About Fiona Russell-Horne

Fiona Russell-Horne
Group Managing Editor across the BMJ portfolio.

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