Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, if he will make it his policy to ensure that any shortfall in European Investment Bank finance for affordable homes as a result of the UK leaving the EU will be met by the UK Government.

The UK remains a full member of the European Union and it retains all of the rights, obligations and benefits that membership brings. The EIB continues to lend to UK projects and a number of UK project financing deals have been approved and signed since the referendum result. The long-term relationship between the UK and the EIB will need to be resolved as part of negotiations surrounding the UK’s withdrawal from the EU.

The Government is committed to social housing and the Spending Review announced that the government will invest over £8 billion in housing over the next five years to deliver 400,000 affordable homes.