Chancellor To Review Funding Bonus For New Homes

Whitehall rethink over £900m annual grants to councils that invest in housing. The Treasury is to review the measures in place to incentivise councils to plan for new homes as part of the spending review due this year. In a speech to senior council figures, Luke Hall, the local government minister, said that the pan-Whitehall spending review, due some time after the Budget in March, will decide “the best approach to incentivising local housing supply and economic growth”. Hall pointed out that the government has already committed to reform the New Homes Bonus, which gives grants to councils based on the additional housing stock delivered above a baseline of 0.4% growth. Read more on the Housing Today website.

https://www.housingtoday.co.uk/news/chancellor-to-review-funding-bonus-for-new-homes/5103606.article