Newspaper article The Journal (Newcastle, England)

PS3bn Fund to Tackle UK's Housing Crisis

Newspaper article The Journal (Newcastle, England)

PS3bn Fund to Tackle UK's Housing Crisis

Article excerpt

A MASSIVE PS3bn housing fund will build more than 225,000 new homes including many in the North East, Conservatives are announcing today.

The money will provide loans for small building firms and pay for vital infrastructure.

Measures to "ensure everyone has a secure place to live" are to be set out by Communities Secretary Sajid Javid, and the Chancellor, Philip Hammond.

The "Home Building Fund" will help build more than 25,000 new homes by 2020 and up to 225,000 in the longer term.

There will also be action to "fix" the housing market, using public land and PS2bn of investment to encourage new developers and different models of construction to build at up to double the rate of traditional house builders.

And a plan for urban regeneration will be designed to ensure more homes are built on brown field land in the region, helping North East cities to expand while protecting green belt sites.

Mr Javid, pictured above, said: "We want to ensure everyone has a safe and secure place to live, and that means we've got to build more homes. …

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