Infrastructure revolution to unlock thousands of new homes
The Chancellor has announced more than £250m in funding from the Housing Infrastructure Fund to ensure over 20,000 new homes nationwide have access to the vital infrastructure they need.
The Chancellor today announced more than £250 million funding for vital infrastructure that will unlock over 20,000 homes nationwide.
This investment, from the Housing Infrastructure Fund, will pay for roads, schools, public transport and utilities in seven places across the Midlands, the East of England and South East. This money will ensure new homes can be built in areas of high demand where people want to live, connecting businesses with their workforce – boosting jobs, growth and living standards.
The Chancellor of the Exchequer, Sajid Javid said:
When I was Housing Secretary I set this fund up to help ensure homes can be built in areas that need it the most, and enable people to live where they want.
I have now launched an infrastructure revolution and this step-change in funding will ensure that all parts of the country benefit as we level-up opportunities.
This £250m will increase the number of houses available to buy and help support people to achieve their dream of home ownership.
The Government is committed to levelling-up communities across the country so that all areas benefit from investment and growth.
Ministers are investing record amounts in roads, rail, housing and broadband to ensure Britain has the modern infrastructure needed to thrive, and allow local economies to flourish via a National Infrastructure Strategy.
Housing Secretary Rt Hon Robert Jenrick MP said:
This government is committed to buildings the houses this country needs, so that more people can realise the dream of owning their own home.
This £250m funding will ensure that communities have the right infrastructure to enable new homes to be built, such as road and transport improvements.
- Breakdown of funding being announced today:
|Project||Funding||Number of homes that it unlocks|
|‘Slyfield Area Regeneration Project’ bid from Surrey County Council to support the reallocation of a water treatment facility||£52.3m||1,500 homes|
|‘East of Ipswich Strategic Highway Works’ bid from Suffolk County Council to deliver transport infrastructure||£19.8m||2,000 homes|
|‘St George’s Barracks’ bid from Rutland County Council to deliver a new school and infrastructure||£29.4m||2,245 homes|
|‘A40 Smart Corridor’ bid from Oxfordshire County Council||£102m||5,050 homes|
|‘Swale Transport Infrastructure’ bid from Kent County Council to deliver road improvements to two junctions of the A249||£38.1m||7,899 homes|
|‘Melton Mowbray Southern Distributor Road’ bid from Leicestershire County Council||£14.7m||2,340 homes|
- The government has announced record investment in infrastructure, including committing £75m to continue to develop plans for Northern Powerhouse Rail and pledging to fund the Leeds-Manchester route as the first phase
- The government has also committed £28.8bn to a National Roads Fund to ensure that roads are maintained to the highest standard
- We have also reached in-principle agreement on the Shared Rural Network to radically improve mobile coverage, and committed £5bn to delivering gigabit-capable broadband to ensure nowhere is left behind.
The government has committed, at Autumn Budget 2017, to increase housing supply by the end of this Parliament to its highest level since 1970, on track to reach 300,000 homes a year, on average, by the mid-2020s. Over 222,000 additional homes were delivered in 2017/18 – the highest level in all but one of the last 31 years, and a 53% increase since 2009/10
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