Housing: Construction – Parliamentary Written Answer

John Healey:  To ask the Secretary of State for Communities and Local Government, with reference to the oral contribution of 28 November 2016, Official Report, column 1229, who the intended recipients are of the Government's £25 billion investment; how much each of those recipients will receive; and on what basis that funding will be granted.

Gavin Barwell: The Government’s planned £25 billion investment in housing means we expect to double, in real terms, our annual capital spending on housing over this Parliament. The funding includes:

·        £7.1 billion to deliver affordable housing.

·        £2.3 billion to deliver starter homes across the country to support first time buyers.

·        £8.6 billion to extend the Help to Buy: Equity Loan scheme to 2021 which will help more people take steps towards owning their own home.

·        £2.3 billion for a new Housing Infrastructure Fund which will be allocated to local government on a competitive basis. The Fund will provide infrastructure targeted at unlocking new private house building in the areas where housing need is greatest.

·        £3 billion for the Home Building Fund, including £1 billion for loans of up to five years and aimed at SMEs and custom builders. £2 billion of the fund is available for larger sites and infrastructure with a much longer loan period.

·        £1.7 billion of funding to pilot ‘accelerated construction’ to speed up house building on surplus public sector land