Financing the construction sector

Meeting: 
MQT on 2017-12-14
Session date: 
December 14, 2017
Reference: 
2017/5009
Question By: 
Sian Berry
Organisation: 
City Hall Greens
Asked Of: 
The Mayor

Question

A constituent has asked, what are you doing through your housing programmes to encourage less dependency on banks as sources of finance for the construction and housing development sector in London?

Answer

Answer for Financing the construction sector

Answer for Financing the construction sector

Answered By: 
The Mayor

In November 2016, I secured the largest ever affordable housing funding settlement from Government to City Hall, with £3.15bn allocated to deliver 90,000 affordable housing starts by 2021. This is complemented by other programmes, such the London Housing Bank, which currently has a budget of up to £200m, and the Housing Zones programme, which currently has a  facility to make loans up to £200m.