Prime Minister Keir Starmer confirmed the funding today, pledging that 54 local councils will benefit, enabling them to transform neglected land, such as former car parks and industrial sites, into homes. The move is seen as part of the government’s broader commitment to delivering 1.5 million homes by the end of this parliamentary term.

“This government is on the side of the builders, not the blockers,” said Starmer. “This funding for councils will transform wastelands into thousands of new homes in areas where people want to live and work. Our brownfield-first approach will not only boost housebuilding but also create jobs, deliver critical infrastructure, and stimulate economic growth across the country.”

The funding will be delivered through the Brownfield Land Release Fund and aims to facilitate the construction of 5,200 homes by helping councils prepare brownfield sites, which are typically expensive to clear and repurpose for residential development. Councils will be able to use the funds to cover costs such as decontaminating land, demolishing disused buildings, and improving infrastructure like water, power, and broadband.

Housing and Planning Minister Matthew Pennycook highlighted the importance of focusing on urban brownfield sites for new housing. “The government is committed to a brownfield-first approach,” he said. “Today’s funding will unlock development on scores of abandoned and neglected urban sites, boosting economic growth and providing much-needed homes.”

Among the projects benefiting from the funding are:

• £2.9 million allocated to Manchester to build 220 affordable homes on a vacant brownfield site,
• £2.2 million for Eastbourne to convert a former industrial site into 100 homes, 80 of which will be affordable,
• £1.7 million for Weston-Super-Mare town centre to build over 100 homes on brownfield land, and
• £1.4 million for Northampton to redevelop a former bus depot, delivering 72 new homes.

Additionally, Homes England has committed £30 million to support the transformation of the Riverside Sunderland area, a former industrial hub, into a vibrant new community with 1,000 homes, new infrastructure, and office space. This broader regeneration project aims to create accommodation for between 8,000 and 10,000 jobs.

The government is also pushing through broader reforms to accelerate housebuilding, including an overhaul of the planning system. Mandatory housebuilding targets are being introduced for councils, and a new “brownfield passport” scheme will fast-track planning permissions for projects that meet design and quality standards.

As part of its wider ambition, the government has also set up a New Homes Accelerator group to unblock thousands of homes stuck in the planning process and established an independent New Towns Taskforce to explore long-term plans for new communities, each consisting of at least 10,000 homes.

Earlier today, it was announced that £550 million worth of impact investments will fund tens of thousands of new homes across the UK, demonstrating renewed investor confidence in Britain’s housing market. The government’s measures are designed to make a lasting impact, as it seeks to tackle the housing shortage and rebuild investor trust in the sector.

The post UK Government Unveils £68m Boost to Build Thousands of New Homes appeared first on EMC UK.

The Child Trust Fund scheme was introduced by the government to encourage long-term, tax-free savings. Each eligible child received an initial deposit of £250, and in some cases, an additional contribution from the government. These savings accounts were managed by banks, building societies, or other financial institutions, and the funds have been growing tax-free over the years.

Young people can take control of their Child Trust Fund at the age of 16, although the money cannot be accessed until they turn 18, at which point the accounts mature. According to HMRC, many have yet to claim their savings, which could provide a significant financial boost as they begin their adult lives.

Simple Process to Claim Savings

For those who are unsure of where their Child Trust Fund is held, HMRC has simplified the process of locating accounts. The government’s online tool on GOV.UK allows young people to find their Child Trust Fund provider using only their National Insurance number and date of birth. This information can be easily accessed via the HMRC app.

Angela MacDonald, HMRC’s Second Permanent Secretary and Deputy Chief Executive, emphasised the importance of young people claiming their funds. “Thousands of Child Trust Fund accounts are sitting unclaimed – we want to reunite young people with their money, and we’re making the process as simple as possible,” she said.

She also warned against using third-party agents who charge for finding Child Trust Funds. Some agents charge up to £350 or 25% of the value of the savings, which reduces the amount that claimants receive. “You don’t need to pay anyone to find your Child Trust Fund for you,” MacDonald added. “Locate yours today by searching ‘find your Child Trust Fund’ on GOV.UK.”

Easy Access to Savings

In the past year, more than 450,000 people have successfully used the free online tool to locate their Child Trust Fund. The Share Foundation, an organisation that helps young people access their funds, has linked over 65,000 people to their accounts. Gavin Oldham of The Share Foundation said: “If you are 18-21 years old, the government would have put money aside for you shortly after birth. This investment would have grown quite a bit and it’s in your name.”

He encouraged young people to take advantage of the free tools available, either through GOV.UK or the Share Foundation’s website, findCTF.sharefound.org.

HMRC hopes that increased awareness will prompt young people to claim their savings and use them towards education, housing, or other personal expenses as they transition into adulthood. Full details and guidance on accessing Child Trust Funds can be found on the government website, GOV.UK.

The post Thousands of Young People Urged to Claim Unclaimed Trust Funds appeared first on EMC UK.