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Homes and Communities Agency: Finance

Volume 491: debated on Monday 27 April 2009

To ask the Secretary of State for Communities and Local Government what additional funding will be provided for the Homes and Communities Agency as a result of the 2009 Budget; what schemes this funding will be used to support; and in which region each such scheme will be. (271315)

As a result of the Budget 2009 the HCA will receive an additional £635 million. This is broken down as follows:

£400 million to unlock currently stalled developments by providing development finance, and additional funding for social and affordable housing, including help for first time buyers.

£50 million to enable local authorities to deliver new social housing over the next two years.

Up to £80 million to support delivery of the Mortgage Rescue Scheme which is being extended to enable households in negative equity (up to a maximum of 120 per cent. loan to value) to access the scheme.

£84 million to provide cavity wall insulation in the social sector.

£21 million for investment in innovative low-carbon heating systems which support housing developments.

These programmes will be administered nationally and sites will be selected against criteria including value for money, deliverability and affordability. Nevertheless, the Government expect a good regional distribution of projects and have asked regional partners for their priorities.