Mayor’s £100 million housing cash boost is ‘small beer’

17:10 20 February 2013

Boris Johnson promised to increase investment in London housing. Picture: Stefan Rousseau/PA Wire

Boris Johnson promised to increase investment in London housing. Picture: Stefan Rousseau/PA Wire

PA Wire/Press Association Images

Boris Johnson’s pledge to plough £100million into London’s housing market is not ambitious enough, according to his opposition.

A total of £78million will be shared among 27 construction firms in an attempt to build 3,000 new homes across the capital.

The Mayor’s Office said this will create 6,000 jobs and benefit around 10,000 Londoners during this mayoral term, with the first homes available in this term.

But Caroline Pidgeon, leader of the London Assembly’s Liberal Democrat group, said the announcement was welcome but “very small beer”.

She said: “The harsh facts are that across the capital 800,000 people are now on housing waiting lists and shamefully 400,000 children live in overcrowded homes.

“The Mayor needs to be far more ambitious and start using all the levers he has to build significantly more affordable homes across London, with a real priority being a substantial increase in family homes for social rent.“

The homes will offer flexible ownership options, including low-interest equity loans, ‘rent-to-save’ and ‘part-buy-part-rent.’ The destination of the rest of the money will be confirmed next month.

Mr Johnson said: “There has been a fantastic level of interest in this new fund, which will help an additional 10,000 people make their way onto the property ladder on top of those already being helped through other programmes.

“There is still much more that must be done to continue to boost house building in London, and I will continue to push for a fairer funding deal which puts us in an even stronger position to meet the challenges that lie ahead.”

It comes after the Mayor called on the government to allow London to keep all stamp duty receipts raised on its property sales, estimated at around £1.3billion a year, to allow it to build up to one million homes.

Sign up for our news alerts today!

Our editors' picks for the day's top news delivered to your inbox or phone.

Sign up for email alerts Sign up for mobile alerts
1
2 3 4 5 6
7

Latest London news

Wednesday, May 27, 2015
A new play chronicles the shocking story of sex predator Savile

‘Were there people in showbusiness who knew he was ‘dodgy’? Absolutely’

Wednesday, May 27, 2015
The capital saw a protest two weeks ago after the Tories were elected (Photo by Rob Stothard/Getty Images)

As the Queen’s Speech marks the official formation of the Conservative government, anti-austerity protesters are planning to hold a demonstration in Trafalgar Square at 5pm this evening.

Wednesday, May 27, 2015

TfL said officers would patrol trains and all 144 stations set to remain open overnight.

Tuesday, May 26, 2015
[Photograph by Tristan Newkey-Burden]

A vulnerable 16-year-old girl who went missing with a 51-year-old man has been found after more than a week.

Tuesday, May 26, 2015
[Photo Emmanuel Valentine]

Twitter was flooded with photos of the tyre-high rushing brown water.

What is this?

Near You Now

Don't Miss...

Competitions

You could take in stunning views of London over brunch at the Sky Garden

Celebrate lighter, brighter days with the chance of winning an indulgent brunch for two with a bottle of bubbles at Darwin, the cool and casual brasserie 36 floors up at Sky Garden.

Read more