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Government opens £2.3bn housing fund

The government has opened its £2.3bn Housing Infrastructure Fund to bids.

Local councils can now apply for a slice of the £2.3bn fund, which will be invested into local infrastructure projects that are expected to catalyse the delivery of 100,000 new homes.

Funding will also cover the delivery of schools, healthcare facilities and digital infrastructure.

A full bidding process is expected to kick in this autumn and, once proposals have been approved, construction of these infrastructure projects will begin.

The HIF was unveiled in last year’s Autumn Statement as part of the government’s wider £23bn National Productivity Investment Fund.

The National Productivity Investment Fund covers infrastructure, housing and research projects.

It will also allocate £1.8bn to Local Enterprise Partnerships to spend on local infrastructure projects; £390m on future transport technology; £450m on digital signalling; £100m for accelerating the East-West Rail line linking Oxford and Cambridge; and £1.4bn for 40,000 affordable home starts.

There will also be £1.1bn spent on England’s local transport network, £220m on traffic pinch-points on the UK’s strategic roads network and £2bn per year on research and development funding.

 

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