Darling's ?1bn could help construction jobs

21/04/2009

The chancellor Alistair Darling will announce a new £1 billion pound initiative aimed at increasing the number of council houses.

It has been reported that government ministers said the plan would contain a five-point programme to build new homes.

Mr Darling is expected to reveal additional money to help build infrastructure, such as roads, moves to convert private sector housing into council properties and a fund to help build more council houses.

The move will be welcomed by house building companies and construction workers who have been badly affected by falling house prices and the wider global financial crisis.

According to the Royal Institute of Chartered Surveyors, more people are now interested in making a purchase - it found new buyer inquiries increased for the fifth month running and "the tentative signs of a pick-up in activity have become more broadly based over the past month".

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