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Reserve Funding Allocation: ‘First Step’ Assisted Home Ownership Scheme In 2025

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A decision made 27 May 2025:

Decision Reference:  MD-TR-2025-328

Public

Subject: Allocation of Reserve Funding for ‘First Step’ Assisted Home Ownership Scheme In 2025

 

Report Title: Allocation of Reserve Funding for ‘First Step’ Assisted Home Ownership Scheme In 2025

Public

Decision(s):

The Minister for Treasury and Resources decided to approve the allocation of up to £2,000,000 in 2025 from the Central Reserve to the Cabinet Office head of expenditure for the purposes of the ‘First Step’ Assisted Home Ownership Scheme in 2025, upon the recommendation of the Treasurer.

Reason for Decision(s):

As stated in the accompanying report, £10 million was originally set aside and released via MD-TR-2024-241 in 2024 for the implementation of the assisted home ownership pilot scheme. Due to the success of the pilot scheme and more unmet demand, the scheme has been extended by the Minister for Housing and the Council of Ministers through the Budget (Government Plan) 2025-28.

Resource Implications: The Central Reserve Head of Expenditure decreases by up to £2,000,000, and the Cabinet Office head of expenditure increases by up to £2,000,000 in 2024.  This decision does not change the total amount of expenditure approved by the States in the Government Budget 2025-28.

 

Action Required: The department and/or Ministerial Office to update relevant parties of the decision.

Signature:

 

Signed By: Assistant Minister for Treasury and Resources

Date Signed:

27 May 2025

 

Date of Decision (If different from Date Signed):

 

 

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