More than 10,000 new homes will be built on public land through Government direct commissioning in a plan David Cameron hailed as a “huge shift”.
The Prime Minister will announce the proposal on January 4, 2016, claiming it marks the biggest of use of such a policy since Margaret Thatcher and Michael Heseltine started the regeneration of London’s Docklands in the Eighties.
Downing Street said the “radical” move will see homes being built at a faster rate with smaller building companies that cannot take on big projects able to begin construction on Government sites which already have planning permission.
The policy will be backed by an extra £1.2 billion to prepare brownfield sites for the building of 30,000 starter homes – available to first time buyers under 40 for at least a 20% discount – over the next five years.
Mr Cameron said: “This Government was elected to deliver security and opportunity – whatever stage of life you’re at. Nothing is more important to achieving that than ensuring hard-working people can buy affordable homes.”