Chancellor Rachel Reeves is expected to announce a nearly double increase in government spending on affordable housing, allocating almost £40 billion over a decade to various developers and local authorities. This move aims to accelerate the housing targets and significantly helps the housebuilding sector. Additionally, social landlords will be permitted to raise rents beyond inflation, addressing demands from housing providers. This announcement is framed as part of a broader £113 billion increase in capital spending and pivot towards enhancing everyday life for people across Britain.
This government is renewing Britain, but I know too many people in too many parts of the country are yet to feel it. This government's task – my task – is to change that.
We're turning the tide against the unacceptable housing crisis in this country with the biggest boost to social and affordable housing investment in a generation.
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