London Seeks Half of New Homes Cash

Boris Johnson is asking for half of the money available for building new affordable housing over the next four years to be spent in London. The mayor’s housing advisor, Richard Blakeway, has suggested Mr Johnson will seek around £1 billion of the money that has not already been allocated. Chancellor George Osborne slashed funding for new affordable housing in the comprehensive spending review, from £8.4 billion to £4.5 billion, with around £2.3 billion of that already committed. Mr Blakeway told a property conference this week there was a ‘strong argument’ for Mr Johnson keeping half of the remaining cash in London. Read more on Inside Housing.