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Building will commence on 15,000 new homes
The Chancellor has announced that the Government’s Help to Buy Scheme will be extended to new home buyers until the end of this decade. It has also been announced that the construction of a new garden city is to be built in the Thames estuary.
George Osborne said that the country had to begin the construction of tens of thousands of new homes in the years to come and the development of the new city at Ebbsfleet in Kent will start off by providing 15,000 homes. He said the scheme will had been due to end in 2016 will carry on until 2020 by which time it will have supported the building of more than 120,000 additional homes.
Mr Osborne said 'This means more homes; this means more aspiration for families; this means economic security and economic resilience because Britain has got to get building,'
Ebbsfleet will be on the high speed rail link to the Channel Tunnel and would be built along the same lines as Milton Keynes and Welwyn Garden City. He said 'There is the land available. There is fantastic infrastructure with a high speed line, it is on the river, and it is in the south east of England where a lot of the housing pressure has been’.
'It will be a proper garden city. It is not something this country has attempted for decades. That is one of the messages of my Budget. Britain has to up its ambition, Britain has to up its game, Britain has to earn its way in the world. Yes, the economy is recovering but that is not enough. We have got to finish the job’.
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