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Social and Affordable Housing: Next Steps
28 October 2024
Type
Written Ministerial Statement
Department
Ministry of Housing, Communities and Local Government
TAGS
At a Glance
Issue Summary
The statement addresses the government's plans to increase affordable and social housing through budget allocations and policy changes.
Action Requested
The Government will provide an immediate £500 million cash injection for the Affordable Homes Programme, consult on a new five-year rent settlement capping social housing rents, retain all receipts from Right to Buy sales for councils, reduce Right to Buy discounts, and allocate £128 million for new housing projects.
Key Facts
- The Government will provide an immediate one year cash injection of £500 million to the Affordable Homes Programme.
- This investment will deliver up to 5000 new social and affordable homes in 2025/2026, bringing total investment to over £5 billion.
- A consultation on a new five-year social housing rent settlement capping rents will be held.
- The Government plans to retain 100% of receipts from Right to Buy sales for councils and reduce discounts under the scheme.
- £128 million funding is allocated for new housing projects.
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Assessment & feedback
Summary accuracy