29 October 2024The Rt Hon Angela Rayner MP, Deputy Prime Minister and Secretary of State for Housing, Communities and Local Government, has written to Parliament to set out how this week’s Budget will support both affordable housing and social housing need.
In her statement she notes a £500 million cash injection to boost the Affordable Homes Programme to create 5,000 new social and affordable homes; consultation on a 5-year rent cap for social housing, limiting rent increases to the Consumer Price Index inflation rate plus 1%; Right to Buy reforms allowing councils to retain 100% of receipts generated by Right to Buy sales; and £128 million funding for new housing projects.
