The Government has announced a £311 million cash top-up to the £1.7 billion it has already provided to support the construction industry across the North and Midlands through the recession.
Housing minister John Healey said the new cash injection would protect and create over 1,000 jobs and apprenticeships in the construction industry as well as helping to tackle the shortage of affordable homes across the two regions.
A total of £2.2 billion has already been pumped into the sector across the 12 Pathfinders, which has enabled the refurbishment of almost 60,000 homes for some 140,000 people.
Merseyside, East Lancashire and Manchester Salford will receive the lion’s share of the 2010-11 pot, receiving £47 million, £48 million and £42 million respectively while the remaining Pathfinders will receive shares ranging from £11 million to £36 million.
This next wave of Government funding will help renovate a further 6,500 homes for around 15,000 people.
Since 2002, the Housing Market Renewal programme has tackled severe housing market failure in parts of the North and Midlands, in places where prices had collapsed and there was widespread abandonment.