LAUREN 3
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Autumn Statement: Extra £3.7bn for<br />
housing projects<br />
New spending on<br />
housing projects<br />
totalling £3.7bn in<br />
England has been<br />
announced by the<br />
chancellor<br />
Philip Hammond said £2.3bn would be spent on infrastructure<br />
- such as roads - related to housing developments.<br />
The chancellor said the money would support the building<br />
of up to 100,000 new homes, and amounted to a<br />
“step-change” in help for the industry.<br />
The government has also agreed to spend an extra<br />
£1.4bn on affordable housing in England.<br />
Local authorities will be able to bid for the money under<br />
one of three existing schemes : Affordable Rent, Shared<br />
Ownership or Rent to Buy<br />
The Treasury estimates that could lead to 40,000 more<br />
affordable homes being built.<br />
1<br />
The money will top up the existing £4.7bn being spent<br />
on grants for affordable housing over the next five<br />
years.
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