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oosting oil production in 2019 by 15%, equivalent to around 0.1% of GDP. 75 This will providecertainty for investors and create the right conditions for the basin to flourish and delivermaximum economic benefits for the UK.1.131 The government will also bring forward proposals for legislation in thenext Parliament for competitive tendering of onshore electricity transmissioninfrastructure. This could significantly reduce the cost of building this infrastructure.Competition in the offshore regime has worked well, having already saved consumers between£200 million and £400 million and helping to lower electricity bills. 761.132 The government’s first competitive auction for renewable electricity in February 2015saw over 2GW of new capacity being supported across the UK: over 1GW of offshore windand 748MW of onshore wind – enough to power more than 1.4 million homes. By introducingcompetition, the government has saved over £100 million per year, driving down costs forconsumers. 771.133 The government believes that there is significant potential for the deployment of tidallagoons and tidal range technologies. Lagoon technology could theoretically contribute up to25TWh/year, the equivalent of 8% of the UK’s electricity consumption in 2013 of indigenous,predictable and low carbon electricity. Therefore, the government has decided to enterin to the first phase of negotiations on a Contract for Difference for Swansea BayTidal Lagoon (without prejudice to the planning decision on the project) to determinewhether the project is affordable and value for money for consumers, and whether it will drivedown costs for tidal lagoon energy in the UK.Housing, planning and local growth1.134 A streamlined, accessible planning system and a housing supply that is readily able tomeet demand are essential components of a flexible, resilient and prosperous economy. Annualhousing starts and planning approvals are at 7-year highs and over 537,000 new homes havebeen built during this Parliament. 78 In total, the government has committed investment of£24 billion up to 2020 into affordable housing, access to finance, and helping households intohome ownership. 791.135 The government is already delivering the most ambitious programme of affordable housebuilding for a generation. It has delivered 217,000 affordable homes since April 2010, includingover 63,000 for Affordable Home Ownership. 80 A further 275,000 homes will be provided in thefive years from April 2015 to March 2020 – building more new affordable homes than duringany equivalent period in the last 20 years.1.136 The government has introduced a number of measures to support home ownership.Since Help to Buy was launched at Budget 2013, the equity loan scheme has boosted housingsupply with almost 43,000 new-build completions, supporting first-time buyers across the75‘Economic and Fiscal Outlook’, Office for Budget Responsibility, March 201576‘Conclusions of Consultation on the Evaluation of OFTO Tender Round 1 Benefits’, Ofgem, September 201477‘World-leading auctions to provide major green electricity boost’, Press Release, Department of Energy and ClimateChange, February 201578‘Table 222: Permanent Dwellings started and completed, by tenure, England’, Department for Communitiesand Local Government, February 2015, and ‘New Housing Pipeline: Q3 2014 Report’, Home Builders Federation,December 201479HM Treasury Internal Calculations80‘Table 1000: additional affordable homes provided by type of scheme, England’ and ‘Table 1012: affordable housingstarts and completions funded by the HCA and the GLA’, Department for Communities and Local Government,February 2015. ‘Help to Buy (equity loan) scheme monthly statistics’, Department for Communities and LocalGovernment, March 2015Budget 201541