Question to the Department for Levelling Up, Housing & Communities:

To ask the Secretary of State for Communities and Local Government, with reference to Autumn Budget 2017, how the announced £8 billion of new guarantees to support house building will operate in practice.

The Government has provided debt guarantees to support the provision of affordable and privately rented homes since 2013. The existing guarantee schemes have supported the delivery of over 42,000 homes.

The further £8 billion guarantee capacity will ensure that the housing sector continues to be able to the access debt markets once the existing guarantee schemes have expired.

We will engage the market over the coming months as to the most effective way of deploying this new guarantee capacity.