Government announces areas to receive £40 million development fund

Posted: 25 Oct 2006 11:14:50 GMT


            Property News - Government announces areas to receive £40 million development fund

The government has released a list of 45 towns and cities across the UK that it believes will see rapid economic growth and will receive a share of new homebuilding funds

The government has released a list of 45 towns and cities across the UK that it believes will see rapid economic growth and will receive a share of new homebuilding funds.

The New Growth Point areas will share a £40 million fund designed to update infrastructure and ease planning for new homes.

Among the areas are Truro, Lincoln, Leicester, Derby, Nottingham, Birmingham, Bristol, Swindon, Reading and Ipswich, Grantham, Thetford and Maidstone.

The cash will help support sports and cultural institutions as well as new housing in areas that the government believes can support around 100,000 new homes.

"If we don't build more homes less than a third of today's ten-year-olds will be able to afford a place of their own in twenty years time," said Housing Minister Yvette Cooper.

"Helping our towns and cities that want to grow can make substantial difference in delivering the new homes we need.

"This gives local areas the chance to provide more jobs and homes with higher design and environmental standards too."

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