Housing minister Grant Shapps has unveiled his plans to incentivise local authorities into delivering new homes.
The New Homes Bonus will reward local authorities who give planning consent and support new homebuilding. Shapps said that for those who act now the government would match the council tax raised on each new home for six years.
The New Homes Bonus would be introduced early in the spending review period, Shapps confirmed. A consultation paper on the final scheme will be published following the spending review.
“With housebuilding falling to its lowest level since 1924, action is needed now to build the homes the country needs,” Shapps said.” I urge councils to seize the moment and open up a debate with their communities now about the new homes they need and how they would use the new bonus."
Source: Housebuilder
See Also: Property News (6701), Grant Shapps (23), Housing Minister (16), New Homes Bonus (7), Housebuilder (84)
Date Published: 10 August 2010