Government funding to restart construction projects
Construction
29th July 2009
The government has announced that companies have been shortlisted to receive cash injections that will enable them to restart stalled construction projects.
Under the Department for Communities and Local Government's Kickstart programme, work will recommence on up to 22,400 homes across the UK.
Details of the scheme were announced by housing minister John Healey, who stressed that the 270 stalled schemes that will share a total of £925 million will be subject to strict criteria in order to receive financial assistance.
He stated that firms will be required to repay almost half of the money provided and one third of the pot will go towards affordable housing initiatives, adding that it will "get stalled building work back on track, create jobs and help build the quality homes we need".
Liability insurance customers may be interested to note that an estimated 20,000 jobs will be created as a result of the funding, with each region submitting projects for consideration.
In related news, a total of four eco-towns recently received government approval and will promote greener and more energy-efficient building practices.
For more information on how Giles can help you with your business insurance, Click here.
