Housing Morning Star
Budget set to boost social housing and expand the powers of England’s mayors
THE Budget will provide more than £1 billion for social and affordable housing and give England’s mayors greater powers, the Treasury said over the weekend. The money takes funding for the 10-year soc
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The money takes funding for the 10-year social and affordable homes programme to more than £40bn.
Councils will also be helped to borrow from the government at preferential interest rates, according to the government.
A Treasury spokesman said: “For years, families have been locked out of a secure and affordable home because we simply haven’t built enough.
“This Budget will go further on that ambition through significant investment in affordable housing and helping councils borrow to build.”
Mayors will get an initial £285 million next year, a new £1.5bn borrowing facility from 2028 and £150m to build capacity.
The move is intended to shift away from reliance on bidding pots managed from Whitehall.
Chancellor John Healey said the plan would make the most of “untapped and wasted” potential in English cities and regions.
Prime Minister Andy Burnham said: “I’m calling time on local leaders going cap in hand to Westminster. That is no way to run a country.
“When I became Prime Minister I said that if a decision can be made closer to home, it should be.”
UK Mayors Network chair and Labour East Midlands mayor Claire Ward said increased devolution would help “deliver real, lasting change for our communities.”
London Mayor Sadiq Khan said it could help unlock projects including the West London Orbital route and the Bakerloo line extension.
It comes after the Treasury’s entrepreneurship adviser Alex Depledge resigned on Saturday, telling the Sunday Times that start-ups were treated as a “sideshow.” She is expected to leave on Thursday, the day after Mr Healey sets out his tax and spending plans.
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