Eu Bank To Lend Britain 1 Billion Pounds To Build More Social Housing

[interestrateripoff]

http://uk.reuters.com/article/uk-britain-eu-housing-idUKKCN0XM16A

The European Union's investment arm is to lend Britain 1 billion pounds to help build more social housing, it said on Monday, its largest ever support for such programmes within Europe.

The European Investment Bank [EIB.UL] denied an accusation by campaigners wanting Britons to vote to leave the EU in the national referendum in June that it was seeking to influence the vote, although it has stepped up both its lending to Britain and the volume of announcements publicising those loans over the past year.

The EIB, which lent a record 5.6 billion pounds for investment in 40 projects in Britain last year, said the timing of the announcement was not linked to the referendum and that it took months for decisions to be made.

In the first four months of 2016 the EIB has agreed new loans worth nearly 4 billion pounds in Britain, accounting for much of what it expects to approve for the whole year. A spokesman said the EIB's total lending in Britain in 2016 was likely to be about the same as last year's record 5.6 billion pounds.

Can you make the money back via the rents considering repair charges etc???

[billybong]

As always the question is where is this extra housing going to be built (clearly from the events of the last few years the funding isn't much of a problem - they can always just print it up - it's the availability of land for housing) and if it is more than just a Bremain marketing ploy does it mean just more crowding of people into the existing areas of housing effectively just adding to the existing awful congestion in the UK.

Edited April 25, 2016 by billybong

[dgul]

This is a loan, not a gift. There doesn't seem to really be any issues with getting finance for property.

They should be concentrating on providing finance for normal companies, and particularly SMEs, for whom the banking system is currently failing.

[long time lurking]

They will only lend us a few tents if we vote out ?

[billybong]

This is a loan, not a gift. There doesn't seem to really be any issues with getting finance for property.

They should be concentrating on providing finance for normal companies, and particularly SMEs, for whom the banking system is currently failing.

+1

[billybong]

They will only lend us a few tents if we vote out ?

So if the UK votes out they'll only lend a few tents and if the UK votes out the US will delay any trade deals by 10 years. It's economic warfare.

[long time lurking]

So if the UK votes out they'll only lend a few tents and if the UK votes out the US will delay any trade deals by 10 years. It's economic warfare.

No no no we juts queue up behind North Korea

[DarkHorseWaits-NoMore]

So if the UK votes out they'll only lend a few tents and if the UK votes out the US will delay any trade deals by 10 years. It's economic warfare.

We should hold an In/Out vote twice a year, we could make this EU business really start to work for us .

[Sheeple Splinter]

Long term economic plan - obviously!

Borrow from EU to build new social housing to let to hard working people from within and without EU. (BBL)

Not as high on the hock scale as HInckley Point mind!

[canbuywontbuy]

So if the UK votes out they'll only lend a few tents and if the UK votes out the US will delay any trade deals by 10 years. It's economic warfare.

So says Obama who won't be president in 2 years' time yet seems qualified to make decisions on behalf of the next US president.

[onlyme2]

And what land would these buildings be built on?

Pretty disgracefully timed sop to a population being outbred by migrants proportionately thanks largely to high house prices and outnumbered on the ground in many areas by migrant labour spilling over into any avaiolble cheaper end accommodation.

[pig]

Well this is going to be a funny thread.

They ain't making land land anymore and just let the private sector sort it out ? Its going to be property 118 and Tory UK Suicide Squads lovechild.

[Arpeggio]

Well it's a different approach from telling us our wallets will spontaneously burst into flames if we leave EU.

[porca misèria]

This'll be one of those areas where Blighty has a quota of EU funds and someone in the UK gets to decide how the funds are deployed. Subject probably to constraints like being projects for the public good, as opposed to those that 'should' be funded privately.

Housing being our obsession gets a juicy pot. Ahead of other worthy causes like the arts, heritage, or regeneration.

[Bear Hug]

I bet everything possible will be done to ensure that the only people benefiting from this are big house builders and landlords. Not convinced, still voting for out.

[libspero]

Is this Merkel's new plan to house the waves of refugees she invited to Germany last year?

[pig]

I thought the government was trying to destroy social housing lol ?

[R K]

Ridiculous. Surely the cheapest funding would be if the government issued bonds and the BoE printed the money to buy them?

Tory freemarketeers prefer to get their finance from French socialists, EU slush funds & Chinese communist party.

Ideology an all that.

[SarahBell]

Ridiculous. Surely the cheapest funding would be if the government issued bonds and the BoE printed the money to buy them?

Yes why the flip are we borrowing money *at presumably a nice % rate, when we can just print the stuff for bankers, why not house?

[Sheeple Splinter]

So, last year the UK pays a net contribution of £8.5 billion to the EU and then borrows a total of £5.6 billion from the EU investment bank.

[rantnrave]

Tacit admission from the EU that because of their rules we're swamped with EU migrants who all now need housing.

[Sandwiches33]

So using previous data and knowing how corrupt the UK is that will be used to build 4 houses which will go to local Councillors mates.

The rest will disappear as management fees and the rest of us will be on the hook for the loan.

[billybong]

The European Union's investment arm is to lend Britain 1 billion pounds to help build more social housing, it said on Monday, its largest ever support for such programmes within Europe.

In any event 1 billion pounds is only of the order of about 10,000 new homes - assuming the money isn't embezzled one way or another (admittedly a risky assumption). A drop in the ocean compared to what's needed and Dave's "promise" of 200,000 new homes a year.

In reality it's a pretty stingy offer if they think it's going to buy some Remain votes. The only ones who might be persuaded are the likes of builders and estate agents etc but most of them are probably voting Remain anyway to stay on the gravy train.

Edited April 26, 2016 by billybong

[Saving For a Space Ship]

I bet everything possible will be done to ensure that the only people benefiting from this are big house builders and landlords. Not convinced, still voting for out.

+1

How much went to help self-builders ?

[wonderpup]

So if the UK votes out they'll only lend a few tents and if the UK votes out the US will delay any trade deals by 10 years. It's economic warfare

When it comes to real warfare the UK is at the front of the que in terms of supplying blood and treasure to support the US- and what has that bought us? A trip to the back of the Que economically should we dare to assert our soverign right to self determination- loyalty ain't what it used to be it seems.

Obama should have limited his remarks to the issue of global influence and the legitimate US interest in having a strong ally inside the EU- this 'back of the que' crap resonates in quite an ugly way and has probably done the anti brexit cause more harm than good- I personally know of two former 'fence sitters' who have now jumped onto the brexit side entirely as a result of Obama's intervention- not the outcome I assume was intended.