UK plans house building fund to boost sector post-Brexit

London

THE British government is set to announce a £3 billion (S$5.4 billion) house building fund to provide developers with cheap loans to boost the sector following the vote to leave the European Union, the Sunday Telegraph newspaper reported.

Finance Minister Philip Hammond, who has talked of the need for a "fiscal reset", is due to set out the government's fiscal response to the June 23 vote in an autumn Budget statement, although no date has yet been set for it.