Housing investment driving economic growth
Government funding for affordable housing passes £1 billion.
Scottish Government investment in affordable housing has
passed £1 billion since April 2011, putting us well on track to deliver
an additional 30,000 homes across Scotland by March 2016, First Minister Alex
Salmond announced today.
The First Minister also highlighted that our total investment in affordable housing is supporting 8,000 jobs in each year of the five-year parliamentary term.
The First Minister welcomed a recent Institute of Fiscal Studies report that highlights the Scottish Government spends 85 per cent more per head on social housing than England and Wales.
While visiting an affordable homes in Galashiels, ahead of a meeting of the Cabinet in Selkirk, Mr Salmond announced £800,000 funding for Eildon Housing Association to acquire land for further development in the town.
The First Minister said:
“Despite challenging economic times and Westminster cuts to budgets, we plan to spend over £1.7 billion to deliver our target of 30,000 affordable homes during the lifetime of this Parliament.
“Housing is, and will remain, a priority for this Government. We will take action that is right for Scotland’s economy and housing market, and we will also help people to access home ownership, where it is sensible and sustainable.
“Unlike Westminster, we’re prioritising social rent, and abolishing Right to Buy. The findings detailed in the Institute for Fiscal Studies report illustrates the gulf in social housing investment between Scotland and the rest of the UK.
“It also brings into sharp focus the fact that under devolution, the Scottish Government is being penalised for investing more in social housing because the benefits of that spending accrue to the UK Government in the form of lower housing benefit payments.
“The full powers of independence will give us full control to tailor our grants and housing supply investment to meet the needs of our communities and the homebuilding industry in Scotland.”
In the current four-year period April 2012 to March 2016, £12 million of SG grant funding is expected to assist in the approval of over 250 additional affordable homes in the Borders.
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