£1 billion allocated to council homes
0Forty one councils are to share nearly £1 billion in housing funding over the next two years.
Housing minister Mark Prisk said that the money would be allocated for councils to bring sub-standard council homes up to better living standards. The Decent Homes programme should also create employment and investment in the areas the funding is allocated, with reports that in some areas every pound spent on council home refurbishment creates £1.46 in local spend through orders to tradesmen and suppliers in the area.
Said Prisk: “The benefits of the £1billion I’ve confirmed today reach far beyond tenants themselves and into the local economy. With every pound spent on improvements boosting local business, creating new jobs and supporting local spending, I want to see councils realising the benefits of this cash as soon as possible.”
Councils were allocated £612m from the Decent Homes programme for 2011/12 and 2012/13. The coming £982.7m is the indicative allocation for 2013/14 and 2014/15. The sum will be split with £540m going to London Councils and £443m to council landlords across the country.
