The Government has announced £605M in growth point funding for 163 local authorities with long-term plans to increase house building.
The councils with Growth Point status have signed up to deliver 1.3M new homes by 2016, 30% more than previously planned. The money will enable local authorities to invest in services to support the new homes, including transport links, the provision of green spaces, and regeneration of town centres.
Housing minister, Margaret Beckett, said: ‘In these difficult times, we must not lose sight of the long-term need to build more homes. Yet, if the support for these new homes is not in place, their construction will be delayed when we need them most, hampering the economy’s recovery.’
The latest funding is in addition to the £227M already paid out for the current year, and completes an overall investment package of £832M for the growth authorities. Some £12M of the funding will be made available for climate change schemes, specifically supporting the delivery of government targets on carbon reduction, waste reduction and flood mitigation.
An announcement on the £200M funding through Community Infrastructure Fund is due soon. The four growth areas are Ashford, London-Stansted-Cambridge-Peterborough, Milton Keynes and South Midlands, and the Thames Gateway.
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