The government has committed to investing \u00a339bn in social and affordable housing in its Spending Review.<\/p>\n
Chancellor Rachel Reeves said this represents \u201cbiggest cash injection into social and affordable housing in 50 years\u201d.<\/p>\n
The cash will be allocated to local authorities, private developers and housing associations over 10 years, meaning it represents a total of \u00a33.9bn per year. It should be noted \u00a32.1 billion per year was already allocated in the form of affordable housing grants, so new funding represents an additional \u00a31.8bn per year.<\/p>\n
Chris Harris, chief operating officer at Dandara, said: \u201cToday\u2019s Spending Review delivers much-needed long-term commitments to infrastructure and housing, offering a critical opportunity to reform the systems that underpin delivery.<\/p>\n
\u201cThe \u00a339\u202fbillion investment in affordable and social housing is especially encouraging, signalling serious intent to tackle supply challenges across all tenures. For developers such as Dandara \u2013 who partner across the private, affordable, and single-family housing sectors \u2013 this provides a solid foundation for ongoing investment and collaboration.\u201d<\/p>\n
Reeves also recommitted to a Labour pledge to spend \u00a313.2bn over the next five years for the government\u2019s Warm Homes Plan, a fund designed to install insulation, heat pumps and solar panels.<\/p>\n<\/p>\n
Trevor Wilkins, managing director at PAH Building & Construction, said: \u201cEnergy efficiency and achieving the UK\u2019s net zero target were key commitments made by the government at the last election.<\/p>\n
\u201cWith the average annual energy bill set to rise to \u00a31,849 in England this year, it is now a national priority to support more households in upgrading their properties.<\/p>\n
\u201cThat\u2019s why protecting funding for the Warm Homes Plan is the right decision. Cutting it would have slowed our progress toward net zero and made the government\u2019s goal of reducing energy bills by \u00a3300 by 2030 far more difficult to achieve.\u201d<\/p>\n
The government has committed to making the mortgage guarantee scheme permanent.<\/p>\n
Meanwhile Reeves talked up Labour\u2019s investment in training and apprenticeships, which aims to upskill over a million young people.<\/p>\n","protected":false},"excerpt":{"rendered":"
The government has committed to investing \u00a339bn in social and affordable housing in its Spending Review. Chancellor Rachel Reeves said this represents \u201cbiggest cash injection into social and affordable housing in 50 years\u201d. The cash will be allocated to local authorities, private developers and housing associations over 10 years, meaning it represents a total of […]<\/p>\n","protected":false},"author":1,"featured_media":629,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-628","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-second-home"],"yoast_head":"\n