“We will provide £2bn more funding [ie not BUILDING, FUNDING] for the affordable housing programme.
This will increase the government’s 2016-21 affordable homes programme to £9.1bn. This extra £2bn will lever in a total investment of £5bnn (public and private) in new housing. [Is the private sector really chipping in, of course not, it’s creative accounting!]
In those areas of the country where rents are high, we will allow bids for social rent, which are further below market rents. [ALL areas of the country have rents t
With a typical subsidy of £80,000, £2bn investment can supply around 25,000 homes available for social rent.
This compares with an additional 6,800 social rent homes delivered in 2015-16.
To help encourage more investment in social housing, we will create a stable financial environment by setting a long-term rent deal for councils and housing associations. This will give them the security and certainty to invest and build more.
We will encourage councils as well as housing associations to bid for this funding so that we can deliver a new generation of council homes in this country.”