Budget announces extra £1.5 billion for social and affordable housebuilding
The Chancellor’s Budget announced an additional £1.5 billion to boost council housing/affordable homes development. The money will be allocated via the 2026-2036 Social and Affordable Homes (SAHP) raising the total capital pot over the next 10 years to over £40 billion.
This is welcome news alongside other government news of an extra £432 million for a programme at giving every rough sleeper in England a route off the streets by Christmas. There was also an announcement on equity loans for a new Your First Homes Scheme and a First Time Buyers ISA but no incentives given to Last Time Buyers or Movers. The Budget was also largely silent on any new funding for health and/or adult social care. However, £190 million was set aside for winter pressures funding, there was mention of a NHS productivity review on AI and a future departmental focus on prevention, and a commitment to work towards a National Care Service in England with personal care free at the point of use, funded in part through changes to the State Pension Triple Lock from the next Parliament.
Commenting on the Chancellor of the Exchequer’s Budget, our Chief Executive Jeremy Porteus said:
"This additional investment is great news for the social housing sector. But, as we approach the 2nd anniversary of the publication of the Older People’s Housing Taskforce report and its recommendations on the HAPPI and TAPPI in relation to age-friendly and ‘digital-ready’ homes, we need to ensure that the mainstream and specialist homes built under the SAHP are fully accessible, adaptable and technology-enabled. This has to be the shape of things to come."
Jeremy was also one of a group of sector leaders who met with Homes England’s Board last month to press for capital funding and explore how other investment levers could further boost the supply of age-friendly homes and placemaking.
For more on the Housing LIN/Vivensa Foundation SHAPE Exchange programme and accompanying SHAPE Challenge Fund, visit our dedicated microsite where you can find out more about the UK programme and the criteria for applying for funding.
And if you are interested in caring communities and healthy neighbourhoods, register for our HAPPI Hour webinar on Tuesday, 3 November with its’ focus on care places and neighbourhood health.