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Scottish Government to Inject 200 Million Pounds in the Housing Sector

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Published on : Nov 19, 2014

The construction and the housing industries of Scotland will get a major financial boost from the Scottish government in terms of additional funding worth 200 million pounds. The main rationale of such a financial boost is to stimulate the housing sector and also safeguarding employment in the construction industry. The housing minister of Scotland has requested the housing leaders to work with the Scottish government in order to frame a joint delivery plan of five years for the housing sector in Scotland. 

The additional funding will lead to the development of several new affordable homes. As per the calculations of the Scottish government, the housing supply budget of next year will support a minimum of 6500 jobs and lever in substantial private investment that will deliver about 600 million pounds of the entire investment.

The final breakdown of the 200 million pounds worth of funding allocation will be declared in the upcoming weeks. 

According to sources, the Scottish government wants to ensure that the people of Scotland have sufficient access to high quality housing that caters to their requirements. The top priority for the Scottish government is to safeguard jobs, provide the necessary support to the construction industry, providing social rented homes, and funding infrastructure for the public and private markets. 

The government is taking necessary actions to enhance the availability of affordable housing for the masses. As a result, the government has invested about 1.7 billion pounds in the housing budget supply. With the help of housing associations, and the partners in councils, the Scottish government has delivered more than 21000 affordable homes and is 2/3rd of the way towards their set target of 30000. 

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