Monday, 7 January 2013

Goverment Mid Term Review; The Housing Perspective.

The Government has published its Mid Term Review, a copy of which can be accessed at
Whilst largely a consolidated list of what the Coalition has achieved, it has announced the following:
·         Before the summer, Ministers will set out detailed plans for public spending for the 2015/16 fiscal year, in line with the overall path of deficit reduction which the Government has already set out to 2017/18, to maintain “economic stability and credibility”, and ensure that the UK retains the confidence of international markets.
·         Universal Credit will be implemented with a new “claimant commitment” which will outline the expectation on claimants as well as consequences for those who fail to comply.  This will make job searches and preparations a full time activity by default.
·         The Green Deal will be launched this month, including a £125 million cash back scheme to encourage energy efficiency improvements by households and businesses.
·         The mass roll out of smart meters will begin in 2014, with installations complete by 2019.
·         Rates of house building will be boosted by:
·      Creating a debt guarantee scheme for up to £10 billion to support increased building of both new affordable homes and homes for private rent.
·      Supporting first time buyers through an extension of the FirstBuy equity loan scheme, as well as continuing to champion the NewBuy scheme to increase the availability of mortgages on new build property.
·      Removing restrictions on developer so that those who can prove that a council’s affordable housing requirements make a project unviable will see such requirements reduced or removed.
·      Brining more empty homes back into use, supporting the release of public sector land and reducing planning delays in order to accelerate major housing projects.
·         £300 million will be invested over five years for specialised housing for those in need of care.
Best wishes.
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