We need help up North too

May 15 2009 by Catriona Lingwood, Constructing Excellence

THIS column recently talked about the need for innovative thinking to inspire a kick start for the construction industry. It’s clear that something needs to be done.

There has also been a feeling our sector hasn’t received the funding assistance it deserves, particularly when you look at the billions that have been pumped into the banks to keep them afloat.

While it doesn’t come close to matching those crazy figures, the possibility of a £500m pot becoming available is a glimmer of hope for those who quite simply just want to start building again.

Until you get into the detail, however …

Not surprisingly, this money isn’t some form of assistance from the public purse, although it is the brainchild of the Homes and Communities Agency (HCA), which seems to be really putting some thought into how to get things moving. The HCA is running its Private Sector Rented Initiative (PSRI) in which pension funds and overseas investors will stump up the finances to kick start a property investment market in the UK for private rental homes.