house roof building 1024x698Chancellor updates Parliament on government's plans to build 300,000 homes every year by the mid 2020s.

Philip Hammond updated MPs during his Spring Statement today about the government’s progress towards building more homes in the UK and revealed where and how part of the £44 billion committed to the effort is now being spent.

This includes £4.1 billion being distributed to 44 “forward thinking” local authorities via the government’s Housing Infrastructure Fund to help build more homes, and that £220 million is to be spent on supporting small house builders.

The Chancellor also said that 60,000 first time buyers had been helped on to the property ladder so far by his Stamp Duty changes in last year’s Autumn Budget, which abolished the duty for homes bought by first timers under £300,000.

Philip Hammond also referred to the work of Oliver Letwin MP, who is leading a government investigation into why it takes so long for homes to be built.

The Negociator 13th March 2018

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