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Government unveils £1bn New Homes Bonus pot
15/11/10
Edited by Tom Bardsley.The government plans to give councils that back new residential property developments a share of around £1 billion in funding, which they will be able to spend on improving their area.
Housing minister Grant Shapps said local authorities would work with residents to decide how to use the proposed New Homes Bonus.
It could, for example, be spent on council tax discounts, enhancing services like rubbish collection or providing facilities such as leisure centres and swimming pools.
Mr. Shapps said the planned scheme would end the system of top-down construction targets that has "slowed house building to a trickle".
Furthermore, it would help to end opposition to new developments from existing residents, he added.
"The New Homes Bonus will ensure that those communities that go for growth reap the benefits of developments, not just the costs," the minister commented.
Stewart Baseley of the Home Builders Federation welcomed the proposal for what he called "a simple, easy to understand system".
Liz Peace, chief executive of the British Property Federation, also backed the plan, saying it is important for communities to "see they are getting something back" from residential property developments.
