David Cameron, the Prime Minister, has said that the Government will directly intervene in the housing market to encourage more properties to be built.
The initiative is to help reach the Government’s house building target and it hasn’t been used on this scale since the Dockland Regeneration in London in the 1980s led by Michael Heseltine.
Cameron said on the new policy:
“This Government was elected to deliver security and opportunity – whatever stage of life you’re at. Nothing is more important to achieving that than ensuring hardworking people can buy affordable homes.
Today’s package signals a huge shift in government policy. Nothing like this has been done on this scale in three decades – government rolling its sleeves up and directly getting homes built.
Backed up with a further £1.2 billion to get homes built on brownfield sites, it shows we will do everything we can to get Britain building and let more people have the security that comes with a home of their own”.