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Britain to spend 2 bln stg more on affordable housing - PM May

Reuters - UK Focus

MANCHESTER, England, Oct (Shenzhen: 000069.SZ - news) 4 (Reuters) - British Prime Minister Theresa May said on Wednesday the government would spend an additional two billion pounds ($2.7 billion) to create a new generation of affordable housing and help fix what she said was a broken market.

"We will encourage councils as well as housing associations to bid for this money and provide certainty over future rent levels," she will tell the Conservative Party's annual conference, according to a copy of her speech.

"A new generation of council houses to help fix our broken housing market," she will say. ($1 = 0.7528 pounds) (Reporting by Elizabeth Piper and William James; writing by Kate Holton; editing by Guy Faulconbridge)