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Government announces nearly £1bn in new homes bonus payouts

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Government announces nearly £1bn in new homes bonus payouts

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Published by Max Salsbury for 24dash.com in Central Government and also in Development, Housing, Local Government

New Homes Bonus scheme outlined in local growth White Paper New Homes Bonus scheme outlined in local growth White Paper

English communities will be rewarded for helping deliver over half a million homes, Housing Minister Kris Hopkins confirmed today.

Hopkins has published final allocations totaling over £900 million for this year’s new homes bonus payments, which will be shared among England’s 353 councils.

Today's allocations mean English local authorities will have received funding for delivering 550,000 newly-built homes and conversions, including over 160,000 affordable homes, and for bringing 93,000 empty homes back into use since the 2011 launch of the new homes bonus.

The latest payouts bring the total paid-out under the scheme to over £2 billion.

The new homes bonus matches the additional council tax raised for new homes and empty homes brought back into use for six years – with extra cash for new affordable homes.

Councils are free to use the funding as they see fit to benefit their local area.

Hopkins said: “The new homes bonus lets local people share in the benefits of development, with councils free to spend the money to benefit their local area.

“And getting Britain building in this way is critical to our long-term economic plan, not only building the homes communities need, but creating thousands of new jobs and apprenticeships across the country.

“We will continue to pay the bonus in the future to ensure that places that have built houses are properly rewarded for doing so.”

Communities Minister Stephen Williams added: “I’m delighted to see the numbers of empty homes going down by 38,000 over the past year alone. Today’s new homes bonus payments are in recognition of council-led efforts to make this happen.

“But I want councils to go even further, and use the range of powers we’ve put in their hands to end the blight of empty properties in our neighbourhoods and bring them back into productive use for the families who need the stability and security new home can provide.”

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