The Housing Minister Kris Hopkins has announced that over half a billion pounds will go into investment for house building schemes.
The £525 million Builders Finance Fund is a large part of the government’s long term economic plan. It should support a reported 15,000 jobs in the construction industry.
Construction firms can “start preparing their bids for a share of £525 million to accelerate development on shovel-ready schemes” according to the Housing Minister.
“This government has got Britain building again, and created thousands of jobs in the construction sector. But it has been harder for smaller schemes to come back from the crash of 2008 and, as part of our long-term economic plan, we want them to have a bigger role in building home for the housing market.”
This scheme is now running alongside the Help to Buy scheme, a scheme Ed Balls never agreed with. He argued that Help to Buy would create a housing bubble which could further ruin the housing market, and that instead the government should focus on aiding the building of homes.
There are already fears however that the minimum house site limit to qualify for the scheme is 15 units, meaning that singular or small range house construction firms will not qualify. But then, the aim of the scheme is to get Britain building, which means not focussing on every individual firm.