Jobs, Growth and Social inclusion

Government pledges £1.5bn housing investment

Government pledges £1.5bn housing investment

An investment of £1.5bn in the housing sector has been announced by the Prime Minister. Gordon Brown said the funding will help build thousands of new homes as well as create jobs.

The plans will involve both local councils and housing associations and will come into effect in just a few months.

It is estimated that a total of 20,000 new energy efficient houses will be constructed over the next two years as a result of the funding.

An additional 10,000 new properties will also be delivered through the private sector, while up to 45,000 jobs will be created in construction and related industries.

The funding will also support the Government's Kickstart programme, a scheme designed to bring stalled housing projects back on track.

Through this initiative, approximately 13,000 new homes will be built.

Housing Minister John Healey said: "The Prime Minister's housing pledge today is a huge boost to efforts to build more homes the country needs now and in the future. This investment will help fast track construction and I want to see work starting on site within the next few months."

Mike Leonard, Director of the Modern Masonry Alliance and a spokesperson for the Get Britain Building campaign, welcomed the news.

"We are delighted that Mr Brown has partly recognised the demands of the Get Britain Building Campaign and has shown a desire to protect the manufacturing capacity and skills base we will need in the future," he said.

"It is now absolutely essential that these 20,000 affordable and 10,000 private homes are built in locally-produced brick and block. Any other outcome would mean a massive waste of public money and a lost opportunity which could prove catastrophic to our ailing building material manufacturing sector and to the jobs of thousands of UK workers. It is now critical that the industry engages with the fund holders and local planners to ensure this is the case."

 

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