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Public sector news: £83m grant for low-cost homes

8 March 2010
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Public sector news: £83m grant for low-cost homesContinuous improvement in the public sector received a welcome boost today (March 8th) with £83 million in funding unlocked for low-cost homes.

According to housing minister John Healey, some 5,700 properties will be put back on the development track after being halted by the economic downturn.

The cash will enable families to benefit from the HomeBuy scheme and get on the property ladder, while housebuilders will be able to safeguard 1,700 jobs across construction sites, Mr Healey added.

Priority will be given to houses with cleaner and greener standards, meeting at least Level 3 of the sustainable homes code.

However, the supply chain through which such residences are created may not be able to get going again just yet.

Developers that received funding today (March 8th) said it could be up to a year before workers are back on site.

Mr Healey is also the Labour MP for Wentworth and previously worked as financial secretary to the Treasury.
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