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Green Paper expected to announce extra social housing funds

The government's Housing Green Paper, released today (23 July), is expected to announce a review of CABE and the release of more cash for social housing.

It is also thought that the government would like to see a more comprehensive local and regional design-review network set up around the country.

The British Property Federation (BPF), in a pre-emptive release, said it also expected the Green Paper to announce that half of the extra 40,000 homes to be built each year will be allocated as social housing.

The extra cash for social housing will be set out in the Comprehensive Spending Review later this year. The BPF also expects the Green Paper to show that the target for 20,000 new homes as social housing each year is unlikely to be met until 'sometime in the next decade'.

According to the BPF, housing need will continue to out-strip supply, causing people to turn to the private rented sector, but the body believes that little thought has been given to the matter.

BPF's director for residential policy, Ian Fletcher, said: 'While it is clear that any additional funding will ultimately put a roof over someone's head - this new funding will not reach full effect until sometime into the next decade. And even then it will still struggle to meet demand.

'Households will continue to form and the backlog of people needing to be housed will continue to accumulate. The immediate solution for many will be the private rented sector, and the BPF is disappointed that no consideration has been given to what it could contribute in today's paper.

'With a bit of imagination, and for the sake of a few minor tax and planning concessions, pension-fund money could be delivering quality long-term rental and shared equity solutions.'

by Richard Vaughan

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