Housing funding to protect construction jobs

07/07/2010 15:17:59

The government has announced a major new injection of funding for house building, which will protect thousands of construction jobs across the country.

A total of £390 million has been made available for construction work on over 8,500 homes, of which 4,500 will be for social rent, over 3,000 will be sold at affordable prices and 1,000 were stalled by the recession.

It is anticipated that this will protect around 8,000 jobs in construction and is in addition to £170 million already made available by the government to finance the building of 4,000 new social homes.

Housing minister Grant Shapps commented: "We are in the business of offering genuine help the country can afford.

"Today's cash is a real shot in the arm for housebuilders. It means that thousands of new affordable homes will now get built, protecting thousands of jobs in the process."

The value of social housing construction jobs undertaken over the 12 months to May was up by 22% year-on-year, according to Glenigan's latest index.

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