Magazine article Public Finance

Scotland Funds RSLs to Buy Unsold Homes

Magazine article Public Finance

Scotland Funds RSLs to Buy Unsold Homes

Article excerpt

The Scottish Government is giving more than ?10m to housing associations to buy unwanted homes from private builders.

In a series of moves aimed at reviving the house building industry, Scottish associations are being given £3.7m to purchase land for future development and a further £3m to speed up the construction of new homes.

The package, announced by Deputy First Minister Nicola Sturgeon on January 27, follows the Scottish Government's decision to spend £120m of its £1.5bn affordable housing investment programme up to two years earlier than planned.

Sturgeon said the money would help alleviate the effects of the recession on developers and get planned projects on site earlier than had been anticipated.

The government has already allocated £18m that was not due to be spent until the final year of the three-year programme. …

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