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Autumn Statement Headlines for Housing & Infrastructure
Posted on Nov 25, 2015

Autumn Statement Headlines for Housing & Infrastructure

Housing
Doubling the housing budget from 2018-19 to deliver at least 400,000 affordable homes including 200,000 Starter Homes, 135,000 new Help to Buy Shared Ownership homes and 10,000 Rent to Buy homes.

Extending Right to Buy scheme to Housing Association tenants

New London Help to Buy scheme with a 40% equity loan - from 'early 2016'

Release public sector land for 160,000 homes

£310 million of funding to deliver 15,000 homes at Ebbsfleet garden city.

Extra 3% in stamp duty for second homes and buy to let properties - from April 2016

Flood Defences
300,000 homes will be better protected from flooding by 2021, with £2.3 billion for over 1,500 flood defence schemes across the country. This includes improvements to sea defences at Rossall in Lancashire which will reduce the risk of flooding for 7,500 homes, and money to protect 3,000 residential properties and 500 businesses in Leeds city centre.

Transport
The government will invest £61 billion in transport this Parliament, an increase of £20 billion compared to the previous parliament.

Confirmation of investment in the Network Rail investment programme as well as capital expenditure over the next 5 years of £46.7 billion by the Department for Transport (DfT) – including starting construction on High Speed 2 (HS2)

London to get an £11bn investment in transport infrastructure.

Confirmation of £13.4 billion to continue to deliver the Roads Investment Strategy.

Education
Schools funding will be protected in line with inflation. £23 billion will be invested in school buildings, creating 600,000 extra school places and 500 free schools.

The previously announced apprenticeship levy will come into effect in April 2017, at a rate of 0.5% of an employer’s pay bill. A £15,000 allowance for employers will mean that the levy will only be paid on employers’ pay bills over £3 million. Less than 2% of UK employers will pay the levy.

Prisons
Nine new prisons to be built; older prisons to be sold off and land used for housing - including Holloway.

NHS
£500 million to be spent on new hospitals including in Cambridge, Brighton, and Sandwell.

Regions
A £400 million Northern Powerhouse investment fund will be created to help small businesses to grow. £5 million will also go to Manchester museum to create a new South Asia gallery in partnership with the British Museum, and £150 million to help make oyster style ticketing a reality across the whole of the North.

Scotland, Wales and Northern Ireland will all receive more money to be spent on infrastructure projects, with each government deciding where this will be spent. This will be an increase of around 14% for Scotland, 16% for Wales and 12% for Northern Ireland.

New devolution deals with Sheffield, the North East, Tees Valley, Liverpool and the West Midlands

New city deals for Glasgow, Aberdeen and Inverness

From 2020 Local Councils will be able to keep money from business rates collected from shops and businesses to spend on local services like street repairs, libraries and transport. 


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