Funding for 11,200 new homes will help create 20,000 building-industry jobs, housing minister John Healey has announced.
A cash boost of £1.7 billion was pledged by Mr Healey to 10 local authorities in six regions under the housing private finance initiative (PFI).
The PFI will see the creation of 4,500 new or refurbised council homes and new affordable rented homes.
And more than £300 million will be used by 50 housing associations to build 5,100 affordable homes through the Homes and Communities Agency, the minister said.
Also announced by the minister was £35 million to regenerate nearly 700 homes across 11 urban areas through the Housing Market Renewal Pathfinders programme.
The announcement comes after Gordon Brown’s claim that £1.5 billion would be spent on building 110,000 new homes during the next two years.
The Prime Minister’s promise was set out in Building Britain’s Future – the Government’s plan to work with people through the recession to build a stronger country.
