GOVERNMENT agency the Housing Corporation, which funds newly-built affordable housing in England, has announced investment of around £39.5million in Lancashire.

The amount, which has been awarded under the Corporation's National Affordable Housing Prog-ramme for 2006-08, will see around 770 new affordable homes built across the county.

Housing Minister Yvette Cooper, said: "We need more affordable homes, both for families to rent and for first- time buyers as well.

"This programme will significantly increase affordable housing as part of the Government's plans to build new homes for the next generation."