The Treasury's new budget allocates an extra £500m for social homes, enabling the construction of 5,000 additional affordable housing units, reflecting a compromise with housing sector ambitions.
With the announcement of a £500m boost, the government's total investment in housing supply now reaches £5bn, aimed at increasing the availability of social homes across the UK.
In reducing discounts on the right-to-buy scheme, the government aims to prevent the depletion of valuable social housing stock, responding to concerns about housing availability.
The consultation process regarding rent increases for social housing providers could consider a long-term approach to enhance financial stability and encourage investment in new housing units.
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