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Budget 2020: Housing roundup

The government made multiple housing pledges in the Budget today.

There will be £1.1bn allocated from the housing infrastructure fund to build almost 70,000 homes in high-demand areas.

The Affordable Homes Programme, which was introduced in 2016 and was due to end next year, is being given a £12.2bn extension and will run until 2025.

The Chancellor introduced a Grenfell building safety fund of almost £1bn, which will be used to remove cladding from residential buildings taller than 18 metres.

The stamp duty surcharge on non-buyers will go ahead in April 2021, though it will be a 2% premium rather than the 3% initially mooted.

There was no mention of the so-called ‘First Homes scheme’, where first-time buyers, ex-service personnel and key workers buying in their local area have been promised a 30% discount.

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