The UK government allocates £7 billion for the construction of more than 400,000 affordable homes

The UK government strongly shows us that it is not going to retreat from its ambitious plans to build a £1 million . homes by 2020. The UK Chancellor George Osborne announced a new government program, which allocated £7 billion for the construction of more than 400,000 affordable houses and, as stated by Osborne, the construction of affordable housing in the UK will now become a priority for the government. It will be the biggest construction since the 1970s.

£2.3 billion of £7 will be allocated to housing specifically for first-time buyers afford homes. They will be given the opportunity to buy at a discount of 20% of housing cost up to £450,000 pounds in London and up to £250,000 in other cities of England.

On another program allocated the £200,000 million for the construction of 10,000 houses which will be allocated on lease terms. People be given space at reduced rent for 5 years. Then, the tenant will be given an advantage in the acquisition of housing property.

£400 million will be allocated for the construction of housing for the elderly and persons with disabilities.

The government focuses on providing housing for the poor, the elderly and the disabled. The solution to this problem is essential for the construction industry, as in the UK a very large layer of people who are not in a position to become full owners of the property. A huge area of unused public land is planned to involve for the implementation of these plans.

® Alice Morgan G. 25.11.2015

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