Announced in December 2005, the New Growth Points initiative is designed to provide funding and support to local communities who wish to pursue large scale sustainable growth, including new housing, through a partnership with Government.
The Government invited local authorities to submit strategic growth proposals which were sustainable, acceptable environmentally and realistic in terms of infrastructure to be assessed by Government and its agencies.
The Sub-Region of South Hampshire, through PUSH, was selected as a New Growth Point Area in October 2006 and is considered a crucial part of the Government’s ambition to increase housing supply. Subsequently, PUSH received an allocation of £3.65m of funding in 2007/2008 to support the delivery of growth in South Hampshire following the submission of its first Programme of Development 2Mb with a further £6.768m for the financial year 2008/2009.
A further capital funding grant of £6.963m was awarded for the financial year 2009/2010 followed by a capital injection of £9.029m for the financial year 2010/2011, which totals £17.147m over the two year period including just over £1.1m in revenue funding. This government funding was provided in response to the 2008 Programme of Development 902Kb submission made by PUSH. However, following a government announcement in December 2009 PUSH learned that the 2010/2011 allocation has been cut by just over £4.1m and has reassessed its capital investment programme as a result.