Construction: Coronavirus

Ministry of Housing, Communities and Local Government written question – answered on 3rd June 2020.

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Photo of Lord Fink Lord Fink Conservative

To ask Her Majesty's Government what assessment they have made of the emergency loan fund established by the government of Scotland to support small and medium-sized housebuilders; and what plans they have to set up a similar fund for housebuilders in England.

Photo of Lord Greenhalgh Lord Greenhalgh Conservative

Continuing to build the homes the country needs is a priority for the Government and we have been supporting the sector through various measures to bolster confidence and retain capacity. In addition to the broader business support packages announced by the Chancellor, including the Bounce Back Loan and Coronavirus Business Interruption Loan schemes, the £2.5 billion Home Building Fund (Short Term Fund), first launched in 2016, also remains open to new borrowers. The fund is targeted at small and medium builders that have been unable to access lending via the market and will help viable development schemes progress. We have also made available £1 billion of guarantee support to SMEs through the ENABLE Build scheme.

We will continue to engage regularly with all parts of the housing industry to understand and monitor the impact of Coronavirus.

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