Don Foster MP

News

Foster welcomes New Homes Bonus funding for Bath

December 11, 2023 by Don Foster MP in Don in Bath, News

Don Foster has welcomed the third allocation of the New Homes Bonus for Bath and North
East Somerset Council.

The allocations will total £661million for English local authorities - £199million for the third year 1 instalments, £232million for the second year 2 instalments, and £230million for this year, bringing the total amount of funding awarded under the New Homes Bonus to almost £1.3billion.

The New Homes Bonus is a powerful, simple and transparent incentive for housing growth. It
is a key part of the housing growth focus of the national housing strategy. The Bonus is
based on the council tax of additional homes and those brought back into use, with a
premium for affordable homes and paid for six years. It ensures that those local authorities
which promote and welcome growth can share in the economic benefits, and build the
communities in which people want to live and work.

The New Homes Bonus provisional allocation for Bath and North East Somerset Council will
total £1,977,235. This includes the third year 1 instalment of £611,349 the second year 2
instalment of £606,839, and £759,048 to be paid in 2013-14. This year 3 instalment will be
paid for 6 years. It includes an affordable homes premium of £95,550.

Commenting Don said:

“For years, developers found themselves at loggerheads with communities unconvinced that their plans for growth would benefit them. But the New Homes Bonus will help turn this around in Bath and across the country.

“The £1.3 billion paid out to councils to date has meant that now local people are able to see the rewards of new developments in their area. Here in Bath this will pave the way for much-needed, locally-supported homes to be delivered.”

All provisional allocations can be found at https://www.gov.uk/government/policies/increasing-the-numberof-available-homes/supporting-pages/new-homes-bonus