Central Government Funding for Affordable Housing

Meeting: 
MQT on 2004-03-31
Session date: 
March 31, 2004
Reference: 
2004/0452
Question By: 
Mike Tuffrey
Organisation: 
Liberal Democrats
Asked Of: 
The Mayor

Question

How much funding has the Government provided for affordable and social housing in London through the Approved Development Programme (or equivalent) each year for the past ten years? Do you agree with evidence provided by GLA officers to the Economic and Social Development Committee that to meet targets including the backlog of housing need, London's ADP funding needs to be virtually doubled?

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Answer

Answer for Central Government Funding for Affordable Housing

Answer for Central Government Funding for Affordable Housing

Answered By: 
The Mayor

The figures for the last ten years of the Housing Corporation's main Approved Development Programme in London (not including the Challenge Fund and Rough Sleepers Initiative) are as follows: 1997/98 £248m 1998/99 £309m 1999/00 £260m 2000/01 £347m 2001/02 £474m 2002/03 £558m 2003/04 £581m 2004/05 £514m 2005/06 £886m The figures quoted in the question for extra resources required would assume that all increases in affordable housing development will be funded purely through the Approved Development Programme. Significant contributions are, and will be made through other sources, such as Section 106 on new developments, English Partnership's programmes and by bringing back into use empty properties.The Barker Review, recently published by the Treasury, identifies other sources of funding to be investigated, including: greater borrowing by Housing Associations, models to develop social housing without grant, options to release equity in existing social housing and land development taxes. The Chancellor has announced that housing capital spending will not be frozen in the Comprehensive Spending Review and the Treasury and ODPM have accepted the Barker Review's conclusion that there needs to be a significant increase in housing supply. This reflects the arguments made in the Case for London. .