Scottish government injects £45 million into low-cost homes

The Scottish government has today announced plans to inject £45 million into a program which will construct up to 800 new low-cost homes across Scotland. The money is made up of a £31 million injection from the previous budget and £14 million which has been freed up by the Scottish government from its existing housing program. So will this make a difference?

There is a definitive lack of affordable housing across Scotland and more people are being tossed out onto the streets. As a consequence, this new low-cost housing will be a godsend for many people who face the pain of homelessness and unemployment in these dire economic times. The move will also help stimulate activity in the Scottish housebuilding market which has been very lackluster since the credit crunch hit home. Indeed Scotland has been earmarked as the weakest economy within the UK and the most likely to lag the rest as and when the long-term recovery kicks in.

Experts believe we can expect more announcements of a similar nature as we approach the Holyrood elections next year when Alex Salmond will be looking to defend and retain his position as first minister of Scotland.