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£250m pledged for new homes scheme

The Government has confirmed a new £250 million initiative to boost the number of affordable houses throughout England.

Housing Minister John Healey announced that a funding package to provide 3,400 new affordable homes will be available to housing associations and other bodies for building projects which it is hoped will lead to the creation of around 5,000 jobs.

The announcement comes just a day after it was confirmed that 47 councils are to benefit from a share of £127 million Government funding to build 2,000 new council homes. The amount provided will be matched by councils, meaning the total amount of cash pledged towards building new homes in the space of two days totals £500 million

Mr Healey said the two projects combined would provide 5,400 cheap homes and create around 10,000 jobs.

“We are ready to use the power of Government and the benefit of public investment to help the country pull through recession by building the homes people need and creating the jobs that keep people in work,” he said.