Provide local authorities with low-cost capital funding
Last updated: 01:32pm 20 July 2018
Conservative Party Manifesto 2017, p.71
…as well as providing them with significant low-cost capital funding.
This one sounds a little technical! First, “capital funding” is simply money provided to local councils by the government for houses. “Low-cost” means that the government only expects a small return on investment back from that funding. So in other words, the manifesto outlines the intention to provide local councils with cheap funding for building houses.
Since the election, the government has provided a wealth of funding for local councils. In February 2018 the government announced that £866 million would be invested in housing. Since then, £1.67 billion has been given to London councils to provide more houses, £100 million has been given to the West Midlands, £215 million has been given to Oxfordshire, alongside a deal with the West of England local councils which included £3 million in funding. However, details of whether or not this funding is “low-cost” are much harder to find.
Therefore, we will mark this as ‘in progress’ and wait for more funding details to be announced.
Want to know more?
- Government investment to unlock more homes across England – Gov.uk
- £866 million investment to help unlock potential 200,000 new homes – Gov.uk
- More support to boost house building momentum – Gov.uk
- £45 million funding boost to support councils unlock land for thousands of homes – Gov.uk
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