Scheme to fund 1,000 new homes being 'finalised'

More than 1,000 new social housing homes could be built if the Welsh Government succeeds in harnessing up to £140million worth of funding.

Finance Minister Jane Hutt says an 'innovative' scheme to pay for the building work is close to being finalised. It would form part of a plan to build 7,500 new affordable homes at the cost of £400million.

The £400m extra investment in housing is already delivering real results. It will help ensure we meet our ambitious target of creating 7,500 new affordable homes by 2016 - while also boosting growth and creating jobs & training opportunities.

Every time we invest in housing we are also investing in jobs, skills, and communities at a time when tackling poverty and creating jobs is at the top of the Welsh Government's agenda.

Attracting finance through more traditional means has become a significant challenge in today's economy.

– Jane Hutt AM, Finance Minister