You are viewing 1 of your 1 free articles
Sector gets £12bn for next Affordable Homes Programme
The government will extend the Affordable Homes Programme with a new multi-year settlement of £12bn, Rishi Sunak has announced.
This marks a £3bn increase on the current five-year Affordable Homes Programme, which is worth £9bn and is due to end in 2021.
In the Budget documents, the Treasury said the funding will be available at the start of the 2021/22 financial year.
It also said that the funding should bring in a further £38bn in public and private investment and “will help more people into homeownership and help those most at risk of homelessness”.
No further information has been given about which tenures will be funded through the extended programme.
READ MORE
The Budget also confirmed £1.1bn worth of allocations from the Housing Infrastructure Fund to unlock almost 70,000 homes in nine different areas, including Manchester, Sunderland and Lancaster.
This was announced in addition to a new £400m Brownfield Housing Fund for “pro-development councils and ambitious mayoral combined authorities”.
The government has also committed to launching a new long-term Single Housing Infrastructure Fund at the next Comprehensive Spending Review, which will be used to fund strategic infrastructure and assembling land for development.
Mr Sunak said the government will also cut interest rates for local authorities on lending for social housing by 1%.
More on the Budget 2020
Inside Housing is bringing you up-to-date news, analysis and comment from the first post-Brexit Budget.
Here are the details of all our coverage so far:
Shared ownership Right to Buy likely to be applied to all rented homes funded under £12bn programme The government is looking at allowing tenants renting homes built through the new Affordable Homes Programme the right to shared ownership of their homes
Fire safety costs ‘could still hit development pipelines’ despite £1bn fund Concerns remain in sector despite cladding removal fund
Budget 2020: an improvement on recent years but questions remain Jules Birch gives his verdict on the first post-Brexit Budget
Housing figures react to ‘positive’ Budget announcements for sector Reaction from key sector figures to the measures unveiled
The housing bits of Sunak’s speech in full Read the key passages from the chancellor’s speech to the House of Commons
PWLB rates for social housing cut to pre-hike levels The cost for councils of borrowing to fund social housing will fall
Budget 2020: the key housing measures at a glance An at-a-glance guide to the key Budget announcements for the sector
Chancellor announces additional £12bn for Affordable Homes Programme Rishi Sunak announces the largest affordable grant programme in years
£650m fund to tackle rough sleeping The chancellor promises to fund 6,000 new places for rough sleepers to live
£1bn Building Safety Fund to remove ‘all forms’ of cladding The government pledges money to make all buildings safer
Housing secretary to announce planning reforms Ministers will set plans to reform the planning system on Thursday
Pre-Budget:
What should the housing sector look out for in today’s Budget? Peter Apps runs through the issues the sector should be looking out for
The housing sector is right to feel anxious about tomorrow’s Budget The government has indicated that its main focus with regard to housing policy is homeownership. The sector should be nervous about what this means for its spending priorities, writes John Perry
What the sector wants from the chancellor James Wilmore sifts through the submissions from the sector’s biggest players to find out what they want from the Budget later today
Conservative MPs urge chancellor to use Budget to build more social housing A group of 27 Conservative MPs and the mayor of the West Midlands have written to chancellor Rishi Sunak ahead of the Budget statement to urge him to allocate more money to building social housing.
How this Budget will signal the government’s direction of travel on housing With the first post-Brexit Budget due, Kate Henderson assesses the issues on which the sector has been lobbying
