Investing in housing is helping to boost Welsh economy says Jane Hutt
19 May 2014 03:13 PM
In challenging times for
public finances the Welsh Government will make the best use of all available
resources to invest in new infrastructure, including housing, Finance Minister
Jane Hutt told a housing conference.
Speaking about the innovative
ways that had been found to finance new housing projects the Minister said the
Welsh Government would continue to deliver growth and jobs whilst providing
safe, secure and affordable homes for those in need.
Jane Hutt said,
“Housing is a key priority
area in the Wales Infrastructure Investment Plan. This is why I have generated
additional investment of £600m since the plan was published in 2012 to
support a range of initiatives which will contribute to increasing housing
supply and boosting the construction industry in Wales.
“As well as investing
traditional capital in schemes such as the Social Housing Grant we have also
looked for new ways of delivering additional homes. This has included the
Housing Finance Grant, which will deliver around 1,000 additional affordable
homes, and the Welsh Housing Partnership, which will result in around
£100m of investment in affordable housing. Another major investment
we’ve made is nearly £175m in the Help to Buy Wales Shared Equity
Scheme which will help qualifying home buyers to buy new-build homes with as
little as 5% deposit and is expected to support the construction of around
5,000 homes.
“These initiatives are
representative of a successful programme of work that has been undertaken by
this Government to generate significant additional investment in housing in
Wales. Given the success of these initiatives we are ambitious to expand
our involvement in the innovative financing of investments in
housing.
“What we have to remember
is the wider impact that investing in housing can have. By investing in
housing we are investing in jobs, skills and communities. Growth and jobs
is right at the top of the Welsh Government’s agenda and by investing in
housing we can deliver growth and jobs whilst providing safe, secure and
affordable homes for those in need.”
Links
Wales
Infrastructure Investment Plan