UK minister develops state housing firm plans

The UK government is exploring plans to establish a state-owned housing developer to boost housebuilding and address low construction rates. Leaked details reveal the proposed entity would use government funds to acquire land and work with private firms to develop various housing types, including affordable homes, potentially increasing borrowing authority. These measures aim to fill the gap between current building levels and government targets, amid ongoing challenges such as rising material costs and high debt levels.

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