Osborne plans 3 billion pound boost for affordable housing

 Britain will invest an additional 3 billion pounds in affordable housing in 2015, Chancellor George Osborne said on Wednesday.

Rapid house price inflation over the past two decades has made it hard for young people to get on the housing ladder, and a lack of local authority homes has led to long waiting lists.

"We're committing over 3 billion pounds capital investment in affordable housing and we will extend the Troubled Families Programme to reach 400,000 more vulnerable families who need extra support," Osborne said.

Osborne was addressing parliament on his plans for a round of government spending cuts of 11.5 billion pounds in the 2015/16 fiscal year.

Article Source :http://uk.reuters.com

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