A quick overview of the key measures affecting housing and the wider construction sector:
On housing:
- 拢15.3bn additional spending for housing, meaning 拢44bn to be spent in total over the next five years
- Review by Oliver Letwin of reasons why planning permission not implemented
- Planning reforms including strengthening the proposed Housing Delivery Test and minimum densities for urban areas
- Support for five Garden Towns in the South-east with New Town Corporation powers
- Funding includes a 拢1.1bn Land Assembly Fund and 拢2.7bn for the Housing Infrastructure fund
- Help for small builders including 拢630m for the remediation of small sites and 拢8bn of guarantees to underwrite loans
- Stamp duty abolished for first time buyers on properties up to 拢300,000 in value
- 拢1bn of further borrowing headroom for councils to invest in building affordable homes
Other key points:
- 拢8bn expansion fo the 拢23bn National Productivity Investment Fund
- 拢65m to support a National Retraining Scheme, which will focus on parts of the economy facing skills shortages, such as construction
- 拢28m for Kensington and Chelsea council to pay for local support including a new community space and regeneration of the Lancaster West Estate
- 拢320m to be invested in former Redcar steelworks site
- 拢1.7bn transport fund for city regions and second devolution deal for the West Midlands
- 拢2bn for Scottish government, 拢1.2bn for Welsh government and 拢650m for Northern Ireland executive
- Further 拢3.5bn of capital funding for NHS to move towards 拢10bn capital investment fund for hospital called for in Naylor Review
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