'Time to get building' Philip Hammond to unveil £3 billion fund for new homes
CHANCELLOR Philip Hammond will today unveil a £3 billion fund to build 25,000 new homes by 2020.
Philip Hammond will today unveil a £3 billion housing fund
The plans will see 225,000 new homes built “in the longer term" and create thousands of new jobs in the UK.
Mr Hammond will also promise to use public land and invest £2 billion to encourage new housing developments to tackle the housing crisis in Britain.
The aim is to build 25,000 new homes by 2020
It follows the Chancellor ditching George Osborne's failed Help to Buy scheme.
There has been a housing shortage in this country for decades
Mr Hammond said: “There has been a housing shortage in this country for decades, and this Government is determined to take action to tackle it.
“We'll use all the tools at our disposal to accelerate housebuilding and ensure that over time, housing becomes more affordable, that is why we are committing £2 billion of additional investment towards this."
Mr Hammond wants to use public land and invest £2 billion to encourage new housing developments
In his speech today Communities Secretary Sajid Javed will add: “Tackling the housing shortfall isn't about political expediency.
"It's a moral duty. And it's one that falls on all of us.
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“Not just in Parliament, but in business, in local government and in our communities.
“So my message today is clear: it's time to get building."