Busy borough set to bank £1.5m New Homes Bonus

WOKING is in line to receive more than £1.5 million in the Government’s New Homes Bonus allocation for 2015/2016.

The allowance, provisionally mapped out for all English local authorities by the Minister of State for Housing and Planning, Brandon Lewis MP, amounts to £1.167 billion.

IT'S A BONUS - Government new housing fund is worth £1.5m to Woking this year
IT’S A BONUS – Government new housing fund is worth £1.5m to Woking this year

Taken together with instalments from previous years, this brings the total amount of funding awarded under the New Homes Bonus to almost £3.4 billion.

The total number of net additional homes rewarded over the period is more than 800,000. That includes 100,000 empty homes being brought back into use, and 200,000 affordable homes made available.

Surrey’s cut of the kitty is £4.8m. The bonus ensures that local authorities who promote and welcome growth can share in the economic benefits and build the communities in which people want to live and work.

Councils are free to spend the bonus as they choose, including on frontline services and keeping council tax rises to a minimum.

Mr Lewis explained: “The number of planning applications granted for new homes has risen to 230,000 in the 12 months to June 2014, showing that our locally led system and incentives like the New Homes Bonus are working well.

The New Homes Bonus provisional allocation for Surrey will total £4,858,233. This includes an affordable homes premium of £40,600.

“This year, we have taken action to ensure that properties classed as long-term empty due to last winter’s flooding will not be penalised by losing out on the bonus.”

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