Housing (Financial Provisions) Act 1924
Encyclopedia
The Housing Act 1924 (14 & 15 Geo. V c. 35) was an Act of Parliament
in the United Kingdom
.
The act increased government subsidies
to be paid to local authorities
to build housing for rent
for low paid workers from £6 to £9. It also extended the time over which the subsidy was paid from 20 to 40 years. Around 508,000 houses were built under this act.
The act was introduced by the first Labour government, and was also known as the Wheatley Housing Act after John Wheatley
the minister who introduced it.
Act of Parliament
An Act of Parliament is a statute enacted as primary legislation by a national or sub-national parliament. In the Republic of Ireland the term Act of the Oireachtas is used, and in the United States the term Act of Congress is used.In Commonwealth countries, the term is used both in a narrow...
in the United Kingdom
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
.
The act increased government subsidies
Subsidy
A subsidy is an assistance paid to a business or economic sector. Most subsidies are made by the government to producers or distributors in an industry to prevent the decline of that industry or an increase in the prices of its products or simply to encourage it to hire more labor A subsidy (also...
to be paid to local authorities
Local government
Local government refers collectively to administrative authorities over areas that are smaller than a state.The term is used to contrast with offices at nation-state level, which are referred to as the central government, national government, or federal government...
to build housing for rent
Renting
Renting is an agreement where a payment is made for the temporary use of a good, service or property owned by another. A gross lease is when the tenant pays a flat rental amount and the landlord pays for all property charges regularly incurred by the ownership from landowners...
for low paid workers from £6 to £9. It also extended the time over which the subsidy was paid from 20 to 40 years. Around 508,000 houses were built under this act.
The act was introduced by the first Labour government, and was also known as the Wheatley Housing Act after John Wheatley
John Wheatley
John Wheatley was a Scottish socialist politician. He was a prominent figure of the Red Clydeside era.Wheatley was born in Bonmahon, County Waterford, Ireland, to Thomas and Johanna Wheatley. In 1876 the family moved to Braehead, Lanarkshire in Scotland...
the minister who introduced it.