Around £690 million will be invested in housing in 2016-17 as part of the Scottish Government’s commitment to delivering 50,000 affordable homes over the next five years.
The Draft Budget for 2016-17 will aim to build between 8,000 and 9,000 new homes across Scotland, which is an increase of up to 28 per cent on the average delivered over the last two years.
The 2016-17 investment is expected to support between 13,000 and 15,000 jobs in the construction industry and generate up to £1.9 billion of economic activity.
The Scottish Government has exceeded its target to deliver 30,000 affordable homes during the lifetime of the current Parliament, with the most recent statistics showing a total of 30,133 affordable homes delivered between April 2011 and end October 2015.
This includes 20,400 for social rent and, within that, 5,292 council homes.
Housing Minister Margaret Burgess said:
“Housing is a key priority for this government and is fundamental to tackling inequalities and boosting the economy. We are determined to work with the entire housing sector to ensure that we deliver more quality affordable homes that people and our communities need.
“This £690 million housing investment is the first part of our bold, credible and affordable commitment to delivering 50,000 affordable homes by 2021. Overall we will invest more than £3 billion in housing over the next five years as a crucial part of our drive to tackle poverty, and helping to give our children the best start in life.
“Our £90 million increase in affordable housing supply compared to 2015-16 is just one part of our broader approach to making sure everyone has access to good quality, energy efficient homes, where they can feel secure and warm.
“We have a strong record on housing. We had a target of delivering 30,000 affordable homes in this Parliament and have exceeded that. We are also approaching 4,000 new affordable homes approvals through a range of innovative financing mechanisms.
“We will continue to work collaboratively with a wide range of partners across all sectors to promote the construction of new homes, support jobs in the construction industry and encourage inclusive growth in the wider economy.”
