Coalition to unveil building package - FT

LONDON (Reuters) - Coalition is preparing to unveil a new stimulus package next month in a drive to encourage house building in its ailing construction sector, the Financial Times reported on Tuesday.

The draft proposal will be announced by either Prime Minister David Cameron or his deputy, Nick Clegg.

The plan features a complex scheme under which the government would relax rules requiring private house builders to incorporate social housing in big projects.

Under the plan, housing associations and private house builders would have to "sit around the table" and agree to work together on large sites.

The government may also underwrite bonds issued by housing associations, which could reduce their borrowing costs and allow them to step into the gap left by private house builders, the FT said.

The proposal was drawn up by Oliver Letwin, the prime minister's head of policy, along with Grant Shapps, housing minister, and Danny Alexander, chief secretary to the Treasury.

(Reporting by Stephen Mangan; Editing by Eric Beech)

Source: http://news.yahoo.com/britains-coalition-unveil-building-package-ft-000516341--business.html

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