CONSERVATIVE PARTY CONFERENCE 2016: Chancellor Philip Hammond will today announce a £3bn home building fund to provide loans to deliver more than 25,000 homes by 2020.
Speaking at the Conservative Party Conference, he is expected to give details of the fund, which will have a long-term goal to see more than 200,000 homes built.
He will also announce extra borrowing of £2bn to speed up housing construction.
The “accelerated construction” scheme will aim to get houses built on publicly-owned brownfield land.
Alongside communities minister Sajid Javid, the chancellor will say the fund will be used to encourage developers to build up to 15,000 homes in this parliament.
Yesterday, prime minister Theresa May announced she would formally trigger Brexit using Article 50 of the Lisbon Treaty by the end of March 2017, which would mean the UK could be outside the EU by the summer of 2019.
She also announced a “Great Repeal Bill” to remove the European Communities Act 1972 from the statute book and that the UK would become an “independent, sovereign” country as well as the “most convincing , passionate advocate for free trade.”
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