Brummie Bonds for Birmingham Homes

Brummie is getting its own ‘bonds’ which will be used to pay for new homes in the city have won business backing.
Reported by Birmingham Post, ‘Greater Birmingham Chambers of Commerce says the proposals by new Birmingham City Council leader John Clancy to invest the public sector pension pot in new houses and infrastructure could tap into a ‘potentially great untapped asset.’ Coun Clancy has previously stated that he ‘wants to use the £11 billion West Midlands local government pension fund, the third largest local authority fund in the UK, to invest in Birmingham and the surrounding region.’

Over the next 10 – 15 years Coun Clancy believes that Birmingham needs up to 90,000 new homes but faces £258 million worth of cuts over the next four years.

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