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Issue Date: 15 October 2007
BNG welcomes Government announcement of £1billion funding for housing market renewal
Bridging NewcastleGateshead (BNG) has welcomed the Government’s announcement that it will invest around £1billion in the housing market renewal programme over the next three years.
The announcement came at the housing market renewal conference in Sheffield days after the Chancellor Alistair Darling delivered his comprehensive spending review. Parliamentary Under Secretary Iain Wright said
"We remain completely committed to the housing market renewal programme. And I am delighted to announce today that we expect to allocate around £1 billion to the programme over the three years 2008-2011."
Anne Mulroy, Director of Bridging NewcastleGateshead said that the announcement was great news for the housing market renewal programme and NewcastleGateshead:
“All of the housing market renewal pathfinders have been campaigning for continued funding that will allow us to continue to build on the work we are already delivering.
“This commitment from the Government means that through the housing market renewal programme, we will be able to continue to transform neighbourhoods, providing better quality and choice of homes.
“We now look forward to an announcement on funding allocation for Bridging NewcastleGateshead so that we can continue to create great places to live within our area.”
Bridging NewcastleGateshead will submit its business plan for 2008-2011 to the Government in early November. An announcement on the next round of funding is expected in early 2008.