London boroughs are set to be the biggest beneficiaries of the final year of the government’s New Homes Bonus.
The London Borough of Barnet, Hackney, Southwark and Tower Hamlets are all in the top 10 receivers of money from the government for increasing the number of homes and their use.
Tower Hamlets tops this list with £24,837,521 being granted.
The figures are calculated by the amount of extra council tax revenue raised for new-build homes, conversions and long-term empty homes brought back into use. There are also incentives for affordable housing.
This year is the last of six years in which the government is making these payments.
In total, almost £3.4bn will have been spent between 2011 and 2016.
