This week, the Government announced that Bromley Council will receive £3,572,623 New Homes Bonus funding next year.
The New Homes Bonus ensures that local authorities which promote and welcome growth can share in its economic benefits. Through the Bonus, the Government will match the funding local authorities receive in additional council tax for every new home built. This includes empty properties that are brought back into use and there is an additional amount for affordable homes.
Commenting on the news of this funding, Bob said:
‘It is excellent that Bromley will receive this huge level of additional funding through the New Homes Bonus. The bonus is not ringfenced, meaning that it can be spent on improving local housing infrastructure, delivering additional homes, keeping council tax down or on anything else that will benefit the local community.’