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From the organisers of

More money all round

15 January 2001

New plans by the Government should keep money flowing into the construction industry.

A White Paper, Our Towns & Cities: the Future, proposes packages for urban renewal worth £1billion over five years.

Among the proposals are more money and flexibility for Regional Development Agencies, up to 12 new Urban Regeneration Companies and five more Millennium Villages.

The Heritage Lottery Fund has earmarked almost £27million for regeneration work in 33 towns and cities.

Even Chancellor Gordon Brown has joined in by supporting some of the proposals for changes in VAT in Lord Rogers\' urban taskforce report. The Chancellor says he supports the idea of a reduction in VAT on property renovation.

Housing Minister Nick Raynsford, meanwhile, announced a 24% increase in the money available for local authority housing investment in 2001-2 to £2.6billion. Not a lot of that will go on stone, but it will help keep builders busy.


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