Mr Hammond provided an update on the overall health of the economy and the Office for Budget Responsibility’s (OBR) forecasts.
- The key points from the Spring Statement 2018
- Spring Statement 2018: London to receive £1.67bn for further affordable homes
- Key points from the Autumn Budget 2018
The key points in the Spring Statement with regard to property included:
• £717m from the £5.5bn housing infrastructure fund to unlock up to 37,000 homes at sites including Old Oak Common in London, the Oxford-Cambridge arc and Cheshire
• the publication of a consultation on infrastructure finance, seeking views on how the government can best support private infrastructure investment
• reiterating the government’s commitment to publishing a comprehensive national infrastructure strategy
• the delivery of around 30,000 affordable homes via the government’s Affordable Homes Guarantee scheme
• the commitment of up to £260m for the Borderlands Growth Deal which, on top of the £102m announced recently for Carlisle from the housing infrastructure fund, means up to £362m of UK government funding into the Borderlands area
• the introduction of a Future Homes Standard by 2025, so that new-build homes are future-proofed with low-carbon heating and world-leading levels of energy efficiency
• confirmation that the government will hold a spending review which will conclude alongside the Budget.