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Affordable housing funding passes £1 billion

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Affordable housing funding passes £1 billion

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

State of the new-build housing market in South East England State of the new-build housing market in South East England

Scottish government investment in affordable housing has passed £1 billion since April 2011.

According to First Minister Alex Salmond, the funds have put the government on track to deliver an additional 30,000 homes by March 2016.

Salmond has welcomed a recent Institute of Fiscal Studies report that showed that the Scottish government spends 85% more per head on social housing than England and Wales.

The First Minister said: “Despite challenging economic times and Westminster cuts to budgets, we plan to spend over £1.7 billion to deliver our target of 30,000 affordable homes during the lifetime of this parliament.

“Housing is, and will remain, a priority for this government. We will take action that is right for Scotland’s economy and housing market, and we will also help people to access home ownership, where it is sensible and sustainable.

“Unlike Westminster, we’re prioritising social rent, and abolishing Right to Buy. The findings detailed in the Institute for Fiscal Studies report illustrates the gulf in social housing investment between Scotland and the rest of the UK.

“It also brings into sharp focus the fact that under devolution, the Scottish government is being penalised for investing more in social housing because the benefits of that spending accrue to the UK Government in the form of lower housing benefit payments.

“The full powers of independence will give us full control to tailor our grants and housing supply investment to meet the needs of our communities and the homebuilding industry in Scotland.”

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