Autumn Budget 2024: £1bn announced for cladding remediation and £3.4bn for Warm Homes Plan
The chancellor has announced billions of pounds in new funding for cladding remediation and the government’s Warm Homes Plan.
Speaking in parliament earlier today, Rachel Reeves promised £1bn to remove dangerous cladding over the next year.
Ms Reeves said: “We will also make progress on our commitment to accelerate the remediation of homes following the findings of the Grenfell Inquiry, with £1bn of investment to remove dangerous cladding next year.”
The chancellor did not say how and if social landlords will be able to access the fund but more detail is expected later this year.
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The government has previously promised changes to how cladding remediation work is funded after it was revealed that associations cannot access the Building Safety Fund.
Inside Housing reported this week how one London landlord revealed that it had to sell off a number of social homes in the prime minister’s constituency to cover remediation costs.
On the government’s Warm Homes Plan, the chancellor added: “We are kick-starting the Warm Homes Plan by confirming an initial £3.4bn over the next three years to transform 350,000 homes, including a quarter of a million local incomes and social homes.”
The Labour manifesto promised a Warm Homes Plan, pledging an extra £6.6bn over the next parliament. The expectation is that significant amounts of grant will be released through these funds.
In September, it was reported that a third wave of the Social Housing Decarbonisation Fund – now called the Warm Homes: Social Housing Fund – and a new local authority retrofit scheme will be opening for applications shortly.
No funding was announced at the time and it is expected that today’s funding announcement will be delivered through these schemes.
The chancellor announced that the Household Support Fund and Discretionary Housing Payments will be extended, with an additional £1bn funding from next year.
An additional £230m will be used to tackle homelessness and rough sleeping as part of a package that will see local authorities receive £1.3bn of additional grant funding “to deliver essential services”.
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