POLITICS

Budget: Reeves attempts to drive up affordable homes

Chancellor Rachel Reeves has confirmed a raft of measures to tackle the ‘desperate lack of affordable housing’ including reform of the Right to Buy scheme.

Budget: Reeves attempts to drive up affordable homes

Chancellor Rachel Reeves has confirmed a raft of measures to tackle the ‘desperate lack of affordable housing' including reform of the Right to Buy scheme.

Reeves told Parliament the Government will reduce Right to Buy discounts and enable councils to keep all the receipts generated by sales to boost social housing stock.

Since the Right to Buy scheme was introduced in 1980, the stock of council housing has decreased from 5.1 million to 1.6 million.

Promising to ‘get Britain building again', Reeves confirmed the Affordable Homes Programme would receive a £500m boost, bringing its annual budget to £3.1bn to help deliver 5,000 social homes.

Reeves said there would be a consultation on a five-year social housing rent settlement, which would increase in line with the Consumer Prices Index measurement of inflation, plus 1%. 

The Government will also consult on a 10-year settlement, which the Local Government Association has said was needed to provide stability to Housing Revenue Accounts.

Reeves confirmed £46m to train planning officers, £233m to go towards tackling homelessness and £1bn to accelerate the removal of dangerous cladding on homes following the Grenfell Tower Inquiry report.

 

POLITICS

Right to Buy applications rise eats into social housing supply, LGA warns

By Izzy Lepone | 14 May 2025

A rise in Right to Buy (RTB) applications is putting pressure on councils attempting to deliver affordable social housing, the Local Government Association (...

POLITICS

Call for pensions to provide housing boost

By Emily Twinch | 14 May 2025

The £392bn invested in the Local Government Pension Scheme (LGPS) could be used to plough necessary funds into social and affordable homes, a think-tank has ...

POLITICS

Unbolting the stable door towards affordable housing

By Jonathan Werran | 14 May 2025

Localis chief executive Jonathan Werran sets out how the LGPS megafund reforms can help address the housing crisis.

POLITICS

Reasons to cheer – but the work isn't finished

By Jason Lowther | 13 May 2025

Jason Lowther says the new Government has got off to a promising start on rectifying the many crises in local government funding. But there is trouble ahead ...

Popular articles by William Eichler