Sir Jim Paice MP welcomes further funding for new homes in South East Cambridgeshire

Jim Paice MP
Jim Paice MP

Sir Jim Paice MP has welcomed news that Cambridgeshire’s councils will receive extra funds for providing hundreds of new homes.

The New Homes Bonus rewards the delivery of additional homes and is a powerful incentive for housing growth.

The scheme matches council tax raised on additional homes and empty homes brought back into use, with a premium for affordable homes.

The scheme’s provisional allocation for 2014-2015 will total £1,429,877 for East Cambridgeshire District Council, including an affordable homes premium of £10,920.

It will total £3,193,104 for South Cambridgeshire District Council, including an affordable homes premium of £39,480.

Since 2011, South Cambridgeshire District council has been rewarded for 2,477 additions to the housing stock.

East Cambridgeshire District Council has been rewarded for 1,112 additions during the same period.

Nationally, the £916 million of provisional New Homes Bonus allocations announced for 2014-2015 brings the total to £2.2 billion over the 4 years between 2011 and 2015.

Councils are free to spend the Bonus as they choose, including on front-line services and keeping council tax low.

The announcement comes in light of recent figures published by the Office of National Statistics showing that new orders in residential construction have risen to their highest level since 2007.

The South East Cambridgeshire MP said: “I am pleased that the Government is offering further support for home building in South East Cambridgeshire through the New Homes Bonus.

“This extra funding is great news for people across the constituency, and additional housing is crucial for those hard-working people who want to get on the housing ladder.”

For all the latest news see Thursday’s (January 9) Echo.