The Get Britain Building Fund has been described as good news by one expert, as it could result in builders in Leicester and elsewhere in the UK being more in demand than ever.
Steve Turner, spokesman for the Home Builders Federation, explained the government’s decision to pump £400 million into the construction sector is a “very welcome move”.
He said it can be used to get projects moving and help those who want to build properties but have experienced problems.
“It will increase housing, at a time where building levels at the present time are the lowest since 1923 and that in turn will create jobs – which is a bonus,” Mr Turner stated.
Although confirmation of the details has yet to emerge from Westminster, he suggested the benefits of the scheme could be felt as early as next year.
Upon announcing the deal, the government said its aim is to double the number of homes built in the UK each year.