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£1.7bn affordable housing boost for Scottish councils
The Scottish government has committed to stimulate investment in affordable housing by making £1.75 billion available to councils.
Each local authority will be informed of their full funding allocation for affordable housing over the next three years in an attempt to provide clarity and certainty over planning for the period.
In 2018/19, £532 million will be shared amongst local authorities, rising to £591 million in 2019/20 and £630 million in 2020/21. According to Housing Minister Kevin Stewart this will support the government’s commitment of delivering 50,000 affordable homes by 2021.
Stewart said: “Today, we are announcing to local authorities how much money they’ll have to invest in affordable housing until the end of this Parliament. It means they can plan these new affordable homes now - with the certainty that the funding will increase year-on-year.
“This is also an important signal to the house-building sector in Scotland and demonstrates our commitment to the industry and the estimated 14,000 jobs our affordable housing supply programme supports each year.”
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