Mayor unveils £250m affordable homes fund

8th September 2017

London Mayor Sadiq Khan has set out plans for a new £250m fund to buy land in London to build more affordable homes. The money raised from selling the land on to home-builders and developers would then be put back into the pot to fund further purchases. He would recruit technical "deal-making" experts for his Homes for Londoners team to help identify and prepare new sites. Mr Khan also promised to "bring together" private tenants and landlords to develop a new "London model" for renting. Mr Khan has called on the Chancellor to grant him the power to raise council tax on empty mansions and control over the capital’s £3.4bn stamp duty income. In a letter to the government, Mr Khan argues that such a move could help fund the building of affordable homes and other housing measures. However, Andrew Boff, the Conservative deputy chair of the London assembly’s housing committee, said the cash call was “a distraction from the fact that he has built so few homes”.

Evening Standard (06/09/2017)   Evening Standard (04/09/2017)