Shapps re-launches Get Britain Building fund
Published: 21 June, 2012
LONDON: Housing minister Grant Shapps has re-opened the competition for the £570m of funding, originally launched in November last year, because £100m of funding was unclaimed by developers.
The new round of bids, expected to deliver 2000 houses, will be more focused on smaller builders, with sites for as little as 15 houses eligible to bid for the government loans or investments for the first time.
The original programme, run by the HCA, was designed to help schemes that were economically viable but stalled because of an inability to find funding.
Grant Mr Shapps said: “We saw huge appetite last time for this funding but some developers later found they could build without the fund. We need to be sure every single pound of taxpayers’ money works as hard as it can so we can get as many homes as possible out of Get Britain Building. That is why I’m inviting further bids.
“We’ve already started seeing the benefits this is bringing to the industry and the economy as a whole. I now want to see as many firms as possible grabbing this opportunity to get the diggers back on site.”
The move follows the intervention of business secretary Vince Cable, who yesterday convened a meeting of house builders to boost housebuilding, after hinting at using government guarantees to boost lending to new build social housing.