THE Scottish government needs to take “collective action and direct intervention” to boost private financing needed to deliver its £4.9 billion affordable homes plans, First Minister John Swinney said today.

Reforming its public-sector delivery model to ensure it is “fit for purpose” will also be required to ensure its ambitions to deliver 36,000 affordable homes over the next four years are value for money, the SNP leader said.

“I am of the view that collective action and direct intervention is required if we are to ramp up efficiencies and build on our strong track record in affordable housing,” he said.

“We also need more ambition, greater focus on raising private finance and accelerating development across all tenures. 

“That is why we will work in partnership with the Scottish National Investment Bank to attract more commercial investment into our housing markets.”

The First Minister, who was due to discuss the issue later today, said that more than 141,000 affordable homes have been provided in Scotland since 2007.

But a further 36,000 are needed in the next four years, which he said will cost up to £4.9 billion.

A total of £926 million has been provided to the Scottish government’s Affordable Housing Supply Programme in this year’s Budget, the largest investment in the scheme since 1989.

“We are determined to provide our younger generation with the opportunity to find a place they can rent or buy, and we are driven by their needs, hopes and aspirations,” he said.

“It is incumbent on all of us to ensure we work together to make things happen — maximising every penny of investment to deliver the houses the people of Scotland so urgently need.”