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£2.3 billion investment in infrastructure for new housing
A £2.3 billion Housing Infrastructure Fund has been launched by Sajid Javid to help unlock 100,000 new homes in areas of high demand.
Speaking at the LGA Conference, the Communities Secretary said that the investment will help to fund vital physical infrastructure projects like the building of roads, bridges, energy networks and other utilities, the absence of which continues to hold housebuilding back.
The new investment will also be available to help build new schools, healthcare centres and digital infrastructure to accommodate growing communities and alleviate pressure on public services.
Javid said: “To build the homes this country needs, we need to deliver the right infrastructure in the right place at the right time. By investing in local infrastructure, we can help unlock building thousands of new homes in the areas where they are needed most. The Housing Infrastructure Fund will also make sure we have better public services in place for local communities.”
The Housing Infrastructure Fund is part of the government’s wider £23 billion National Productivity Investment Fund. The new funding will be allocated to local authorities on a competitive basis, and will be available from 2017-18 to 2020-21.
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