Britain launched a 5 billion-pound ($6.5 billion) homebuilding stimulus package on Monday, including plans to borrow 2 billion pounds to help address a long-term housing shortage that has become a major economic problem.
The announcement comes on the second day of the ruling Conservative Party’s annual conference, which the government is using to set out how it wants to leave the European Union and tackle social divisions exposed by the June Brexit vote.
Appealing to voters who have been shut out of the housing market by years of rising prices and tight lending conditions, the government said it wanted to spend 2 billion pounds ($2.6 billion) to boost housebuilding by using surplus public land and helping new homebuilders into the market.
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