2.3bn for UK Housing Fund and Infrastructure

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2.3bn for UK Housing Fund and Infrastructure
Date: 
07/07/2017

2016 Autumn Statement

Back in the 2016 Autumn Statement made by the chancellor Philip Hammond 2.3bn pounds was to be invested in housing and infrastructure this was to be part of the £23 billion National Productivity Investment Fund.

In order for property to be built in badly needed areas a framework or infrastructure of roads, schools, hospitals and local services have to be in place.

Local Authorities

Services deployed by local authorities will encourage development and make areas of land attractive for planning and property developers.

Andrew Whitaker, planning director at the Home Builders Federation, said:“Funding necessary infrastructure will give local authorities the opportunity to remove barriers to developments being delivered.“

By making the funds available to local councils it is in the hands of the agencies that are close to the communities and know best where to spend the money to make more property available quickly.

Lord Porter, chairman of the LGA, said: “We’re pleased that the government has followed through on its commitment to invest in infrastructure linked to housing and that this to be led by councils, as we outlined on our preliminary Housing Commission findings last year.“

Sajid Javid MP said: “To build the homes this country needs, we need to deliver the right infrastructure in the right place at the right time.“

White Paper

A government white paper has already been produced earlier this year on new ways for local councils to understand and monitor housing needs.

It makes sense to have local councils identify and add infrastructure in their own locations but they will need new methods outlined in the government white paper. It is estimated that this approach could make available 100,000 new properties in areas that need it most.

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