§ Mr. Liddell-GraingerTo ask the Deputy Prime Minister what impact the additional funding granted to his Department in the 2004 Spending Review will have on the provision of affordable housing(a) in the Bridgwater parliamentary constituency and (b) in the South West; and what assessment he has made of the likely impact on the greenbelt and green spaces. [186540]
§ Keith HillThe funding provided in the Spending Review will, along with efficiency improvements, produce 75,000 social rented homes and 40,000 homes for essential public sector workers and low cost homeownership over the three years to 2007–08. Decisions have not yet been taken on how Regional Housing Pot funding for 2006–07 and 2007–08 (including the additional funding for affordable housing) is split between regions. This needs to reflect the different pattern of needs across regions and the Government's national housing priorities, including development of the growth areas, and targets. The Office of the Deputy Prime Minister is aiming to complete this work, which raises some complex issues, by the end of the year.
The Office of the Deputy Prime Minister will announce decisions on allocation of funding within regions next summer in the light of recommendations from Regional Housing Boards, which are due in May next year.
1160W
§ Mr. LoveTo ask the Deputy Prime Minister what research his Department has carried out to assess the impact of expanding shared ownership schemes on the production of affordable rental housing for key workers and low-income groups. [187530]
§ Keith HillThe Office of the Deputy Prime Minister published the results of an Evaluation of the Housing Corporation funded Low Cost Home Ownership Programme in 2002. The research found that shared ownership proved good value for money for both the public purse and for the consumer.
Shared ownership provides a means of helping key workers, existing social tenants and those on housing waiting lists into horse ownership while at the same time helping to reduce pressure on housing waiting lists and freeing up existing social rented accommodation for those in priority housing need. The balance between social rented and shared ownership accommodation is dependent on the Government's national housing priorities together with regional and local housing strategies and investment priorities.
The funding provided in the Spending Review 2004 will, along with efficiency improvements, produce 75,000 social rented homes and 40,000 homes for essential public sector workers and low cost home ownership over the three years to 2007–08.
§ Mr. LoveTo ask the Deputy Prime Minister what assessment his Department has made of the credit needs of low and moderate income borrowers in relation to accessing affordable privately-rented accommodation. [187531]
§ Keith HillNone.