US EditionRayner secures 10-year affordable housing pledge from Reeves
- Deputy Prime Minister Angela Rayner secured a 10-year funding pledge from Chancellor Rachel Reeves to build more affordable homes in Wednesday's Spending Review.
- This commitment follows months of negotiations and aims to double the usual five-year affordable housing funding period to provide sector stability.
- The government plans to invest £39 billion over 10 years, significantly more than the previous Conservative average of £2.3 billion per year, to meet the pledge of 1.5 million homes.
- Housing charities called the plan transformational but warned that many affordable homes remain unaffordable, urging a focus on social rent tied to local incomes to ensure genuine affordability.
- The long-term funding aims to ease the housing crisis by enabling planning and construction but faces skepticism about meeting targets amid current shortages and ongoing demand.
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Rachel Reeves still silent on how many of the new homes will be social housing
During Chancellor Rachel Reeves‘ spending review, she remained silent on how many of Labour’s 1.5 million new homes will be social. She did announce £39 billion over ten years for ‘affordable’ housing. This is a lot more than the £2bn she pledged in the Spring Statement. But she also hasn’t detailed what she defines as affordable. Reeves herself rents out her former home in South London for £3,200 per month. Is that ‘affordable’? And more broadl…
·United Kingdom
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UK’s Reeves Commits £39 Billion to Build More Affordable Housing
Chancellor of the Exchequer Rachel Reeves committed £39 billion ($52.6 billion) to affordable housebuilding in the UK spending review, as the government seeks to regain momentum in its bid to build 1.5 million homes.
·United States
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Total News Sources54
Leaning Left8Leaning Right4Center7Last UpdatedBias Distribution42% Left
Bias Distribution
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42% Left
L 42%
C 37%
R 21%
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