29.10.18
PSE Budget roundup: £500m housing fund, £84m granted to children’s services
A massive £5.5bn infrastructure fund capable of building 650,000 homes and just £84m dedicated to children’s social care were some of the highlights from chancellor Philip Hammond’s whistle-stop Budget announced to the Commons today.
One of the key features from Hammond’s speech was £500m dedicated to the Housing Infrastructure Fund (HIF), pushing the HIF up to £5.5bn. The extra cash unlocks the building potential of 650,000 new homes across the country.
Announced earlier today, Hammond will allocate £420m to help councils tackle the growing issues of potholes. The funding comes alongside a £28.8bn commitment to upgrading England’s road networks, with an extra £3.5bn being given to councils to maintain major local routes.
Hammond allocated just £650m for councils to deal with the ever-growing adult social care crisis, and just £84m over five years for children for 20 councils—concerning shadow communities secretary Andrew Gwynne:
Amongst other announcements included increasing the Transforming Cities Funding to £2.4bn:
One of the more prominent angles of Hammond’s speech today included £1.5bn to support the British high street, with £675m announced for the Future High Streets fund for councils to spend helping high streets and adapt to changing shopping habits. Alongside this announcement, Hammond will shave a third off business rates for small retailers in a bid to revitalise the declining high streets that span across the country.
Other announcements included a £400m extra allocation for schools this year to help “buy those little extras they need,” £45m disabled facilities grant for 2018-19, and a smart transport cash boost of £90m.
Top image: Stefan Rousseau via PA Wire/PA Images
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