UK moves ahead with first £10 billion wave of low-cost housing plan

Britain unveiled a £10 billion plan to build lower-cost rental homes with a heavy focus on London, funding the construction of more than 70,000 homes in the first wave.
Around 60% of the homes will be social rent (subsidised), which falls short of new PM Andy Burnham’s pledge to have the programme delivered entirely by local councils.
The first £7 billion tranche is earmarked for London, gives mayoral authorities more strategic powers, and the government says councils currently lack capacity to run the whole programme.