Philip Hammond

Autumn Budget 2018: Housing infrastructure fund to increase by £500m



Chancellor of the exchequer Philip Hammond has outlined the plans for the UK economy in the Autumn Budget 2018.

The most notable points for the development industry were:

  • an additional £500m announced for the housing infrastructure fund to unlock up to 650,000 new homes 
  • £675m of funding to create a high street fund to invest in improvements
  • from April 2021, a new Help to Buy equity loan scheme will run for two years before closing in March 2023
  • stamp duty abolished for first-time buyers on shared ownership purchases up to £500,000 
  • the number of first-time buyers is at an 11-year high
  • up to £1bn of funding through the British Business Bank to support SME housebuilders

The housing infrastructure fund will now total £5.5bn.

The £675m future high streets fund will invest in improvements to town centre infrastructure, reduce congestion, support redevelopment around the high streets and enable new housing and workspaces to be created.


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