£190 million of new homes bonus for London councils
Thu 13th February 2014, 4:03 pm
The 33 London boroughs have received more than £190 million out of the £900 million new home bonus cash allocated to English councils.
The bonus is paid by the Department for Communities and Local Government to local authorities for increasing the number of homes, with the amount each council is allocated based on the amount of extra council tax revenue raised for newly build homes, conversions, and long-term empty homes brought back into use. Providing extra affordable homes increases the bonus.
The London Borough of Tower Hamlets received the largest bonus in England, getting £19., while Hackney, Islington and Southwark received £13.1 million, £12 million and £10.8 million respectively.
The largest bonus outside of London was granted to Birmingham, which got £15 million.
View the press release