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Government to build “tens of thousands of new homes twice as quickly by 2020”

 

The Government is launchng a £5bn fund to help ease the current housing crisi, the cnsevative party conference heard yesterday.

Philip Hammond, chancellor of the exchequer and Communities Secretary Sajid Jvid  are launching a £3 bn Home Building Fund to help small building firms to build 25,000 new homes by 2020 and up to 225,000 in the longer term.

There is also a separate £2bn loan fund which will see a further 15,000 new homes built by 2020 on surplus public sector land.

Javid, told the conference that it is a “moral duty” for the Government to build more homes and tackle the housing shortage. “Tackling housing shortfall isn’t about political expediency. It’s a moral duty. And it’s one that falls on all of us,” he said.

“Not just in Parliament, but in business, in local government and in our communities. So my message today is clear: it’s time to get building.”

Hammond said: “There has been a housing shortage in this country for decades, and this Government is determined to take action to tackle it.

“We’ll use all the tools at our disposal to accelerate housebuilding and ensure that over time, housing becomes more affordable, that is why we are committing £2 billion of additional investment towards this.”

About Fiona Russell-Horne

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

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