The UK government has announced a £2 billion initiative to fund the construction of up to 18,000 new homes across England, marking a significant investment in social and affordable housing. Chancellor Rachel Reeves emphasized that this funding is a preliminary effort from the Treasury, aimed to alleviate the housing crisis. Although the announcement is a step forward, charities are advocating that most new homes should be designated for social rent due to the escalating rates of homelessness currently affecting the country. This development comes amid other budget challenges facing the government.
Chancellor Rachel Reeves announced a £2 billion fund for constructing 18,000 new homes in England, aiming to address the ongoing housing crisis and facilitate social housing.
The government describes the funding as an initial step toward long-term investment in housing solutions, amidst growing pressures from charities regarding rising homelessness rates.
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