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New Homes

Part of Housing, Communities and Local Government – in the House of Commons on 13th January 2020.

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Photo of Robert Jenrick Robert Jenrick The Secretary of State for Housing, Communities and Local Government

We want to build more homes of all types. We have delivered 464,000 new affordable homes since 2010, and we have abolished the housing revenue account cap and established a five-year rent deal. Councils can secure grant funding from the existing affordable homes programme, and I am pleased to say that Rugby Borough Council is benefiting from that. In our manifesto, we said that we would create a successor to the affordable homes programme that is at least as generous. Finance from the Public Works Loan Board plays an important role in these investments. In October the Treasury made an extra £10 billion of lending available, and the interest rate remains very favourable, returning only to 2018 levels.