The government is launching a £2.3bn fund to deliver ‘infrastructure’ for up to 100,000 new homes in areas of high demand.
In today’s Autumn Statement Chancellor Philip Hammond also pledged to invest an additional £1.4bn in 40,000 affordable homes.
Hammond said: “The effect of unaffordable housing on our nation’s productivity makes it an urgent [issue].
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“One of the biggest objections to housing development as honourable and right honourable members will know from their own constituencies is often the impact on local infrastructure.
“So we will focus government investment to unlock land for housing with a new £2.3bn housing infrastructure fund to deliver infrastructure for up to 100,000 new homes in areas of high demand.
“To provide affordable housing to support a wide range of needs we will invest a further £1.4bn to deliver 40,000 additional affordable homes.
“And I will also relax restrictions on government grant to allow providers to deliver a wider range of housing types.”
He added that the government expects to double its annual capital spending on housing this term.
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