MP seeks slice of £9bn EU regeneration fund
Social landlords should pressure the government to spend some of the annual £9 billion which is allocated to European Union projects on regeneration in the UK instead.
This is the call from a member of an influential committee of MPs which is currently investigating how best to finance the supply of new homes.
Speaking on Tuesday at a parliamentary reception for the Chartered Institute of Housing’s south east branch, George Hollingbery said: ‘£9 billion goes each year from the UK to EU structural funds. We believe these funds could easily be left in the UK to use for regeneration as the UK sees fit rather than some EU bureaucrat.’
Mr Hollingbery, a member of the Communities and Local Government select committee, added: ‘Finding funding for building homes isn’t going to get any easier and will be difficult for a decade.’
The Conservative MP for Meon Valley also warned that the government’s £1.8 billion affordable homes programme was ‘chronically limited in scope’ and a new approach would need to be found once the current scheme finishes in 2015.
The CLG select committee is still gathering evidence to produce its report which is expected to be published in March.