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United Kingdom : Ł100m aid to develop New Homes
Publish Date : 07-Jul-2015
Ministers are expecting a Ł100 million help to small developers will help the development of 2,000 new homes.
Housing Minister Brandon Lewis said the cash, 50% of which will originate from the Government to coordinate the Ł50 million vowed by Lloyds Banking Group in October, would "keep the country building".
The Housing Growth Partnership is relied upon to make about 50 speculations close by little manufacturers in new advancements, giving cash to their organizations with an end goal to support housebuilding. It will likewise set up a system of manufacturers to go about as guides to companies hoping to grow.
"The 2008 economic crash devastated our army of small builders, with delivery falling from 44,000 homes to just 18,000 - seven years on, companies are getting back on their feet but we're determined to give them all the help they need, said Mr Lewis.
"Access to finance is one of the biggest challenges they face - so that's why today I'm launching this Ł100 million commitment which will help our smaller builders fund new projects, expand their businesses, create more jobs and build more homes.
"With housing starts at a seven-year high and climbing and homes granted planning permission at 261,000 - the highest since 2007, this work will ensure we maintain this momentum and keep the country building."
