United Kingdom Breaking News: Britain's Osborne Plans Three Billion Sterling Boost for Affordable Housing

Wochit 1:08 mins

British finance minister George Osborne said that Britain will invest an additional 3 billion pounds ($4.62 billion) in affordable housing in 2015. Rapid house price inflation over the past two decades has made it hard for young people to get on the housing ladder, and a lack of local authority homes has led to long waiting lists. "We're committing over 3 billion pounds capital investment in affordable housing and we will extend the Troubled Families Program to reach 400,000 more vulnerable families who need extra support," Osborne said. Federal Reserve policymaker Richard Fisher said on Monday he was comfortable with the rise in U.S. Treasury yields following the central bank's signal it planned to slow its support, but cautioned that a big spike would be "destructive". Delta Air Lines said that it has completed its purchase of a 49 percent stake in British airline Virgin Atlantic and added the two carriers plan to start cross-selling seats on each other's flights in July.

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