§ 17. Mr. Nigel JonesTo ask the Secretary of State for the Environment what steps he is taking to assist house builders to increase the supply of new, affordable houses.
§ Sir George YoungThe Government are investing £1.7 billion this year through the Housing Corporation, nearly double the level of three years ago, and supplemented by £0.5 billion of private finance, for affordable housing provided by housing associations. A substantial proportion of the corporation's programme is devoted to new build. Recent falls in interest rates and in land prices will stimulate demand for new private housing, which is now more affordable than for many years.
§ Sir Michael NeubertTo ask the Secretary of State for the Environment what is the total expenditure committed to public house-building programmes by housing associations, local authorities and others in this current financial year; and what percentage he estimates has been placed with(a) large volume-build contractors and (b) small- and medium-sized companies, respectively.
§ Sir George Young[holding answer 10 November 1992]: Gross capital expenditure by housing associations financed through the Housing Corporation in 1992–93 will be over £1.7 billion, supplemented by private loans of £0.5 billion; the large majority of this is spent on new house-building. It is estimated that local authorities will spend around £125 million on new council housing in 787W 1992–93. In addition, authorities are estimated to spend £250 million on support for housing associations, much of which will be on new house building. No information is available centrally about the size of contractors used by associations and authorities.