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BUDGET 2009 NEWS: Darling pledges £500m to kickstart housing sector

The Government has pledged £500m to aid the UK house building sector which has been crippled by the credit crunch.

Speaking at this year’s Budget, Chancellor Alistair Darling pledged £500m extra for the house building sector, which he says will help the development of thousands of new homes.

Of that £500m, £100m will be given to Local Authorities to produce more eco-friendly green homes.

Darling also pledged £50m to help modernise homes for members of the armed forces.

He said: “We need to help meet the housing demand and we have to work with the building industry to fight the restraints it is experiencing as a result of the credit crunch.”

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