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Budget to allocate more than £1bn to affordable housing in England
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Wednesday’s Budget will allocate more than £1bn to social and affordable housing in England, while giving regional leaders new funding and borrowing options.
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More than £1bn is to be allocated to social and affordable housing in England in Wednesday’s Budget, taking funding for the government’s 10-year homes programme beyond £40bn, the BBC reports.
The Budget will also give mayors and regional leaders more funding and powers, including preferential-rate government loans to help councils invest in housebuilding. The Treasury says £285m in transitional funding will be allocated next year, while the government will work with mayors on a £1.5bn borrowing facility from 2028.
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