Rishi Sunak announces new package to build more homes, end rough sleeping and support and level up communities across England
Editorial Team | 28th November, 2020
The Government has announced that it will allocate £7.1 billion to a new National Home Building Fund next year, as announced by Chancellor Rishi Sunak in the Spending Review 2020.
The Spending Review underlines the government’s immediate priority of protecting people’s lives and livelihoods as the country continues to battle the outbreak, and also sets out how he government will deliver stronger public services.
The Ministry of Housing, Communities and Local Government will receive nearly £10 billion of funding in the next financial year.
The government will also provide more affordable, secure and greener homes for families across the country.
Funding in the Spending Review will go towards the governments long-term investments in housing, including through a £7.1 billion National Home Building Fund and more than £12 billion being invested through the Affordable Homes Programme in the coming years.
The Spending Review will also help us levy up every part of the country, with a new £4 billion Levelling Up Fund to invest in local infrastructure and support economic recovery.
Councils across England will be supported with access to an additional £2.2 billion to deliver core services and more than £3 billion of additional support for COVID-19 pressures next year.
In addition to help protect the most vulnerable in our society, the government has announced an additional £254 million of resource funding to tackle homelessness and rough sleeping – a 60% increase compared to Spending Review 2019.
The fund forms part of the new National Infrastructure Strategy which will see a new infrastructure bank created, headquartered in the north of England, to finance major new investment projects across the UK starting from spring.