Budget 2018: £500m infrastructure funding and retail PDR consultation announced - property reacts

Philip Hammond

Source: Shutterstock/Twocoms

Chancellor Philip Hammond has committed an additional £500m to the Housing Infrastructure Fund in today’s Budget, as well as launching a consultation  on PDRs for retail to residential conversions and upward extensions.

In his speech, Hammond said that the £500m addition to the Housing Infrastructure Fund, which was initially launched in 2016 and funds councils to carry out works that pave the way for housing schemes, would “unlock 650,000 homes”.

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