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Government invests to address housing downturn |
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Tuesday, 07 October 2008 |
New investment in Scotland's housing sector will help support house builders north of the border and ensure a continued supply of new housing, the Scottish Government said today.
As part of plans to bring forward up to £100 million of housing investment that was allocated to future budgets, Communities Minister Stewart Maxwell announced £9 million to acquire land and start work on important sites.
This is the first stage of the rescheduled funding, and sees £4 million spread across six housing projects to get work started on their sites, with a further £5 million going to housing associations to buy land for new developments.
"This Scottish Government recognises the serious challenges confronting Scotland's house builders," Maxwell said.
"This has become a major issue, with serious implications for the industry's present and future capacity and our ambition to increase long-term housing supply in Scotland.
"That's why we have taken decisive action, both to help mitigate the impacts of the credit crunch on developers, and assist the delivery of more affordable homes. This funding will go some way to lay the foundations for the house-building industry to bounce back," he added.
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