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Chancellor Unveils £39 Billion Plan for 1.5 Million Homes

6/12/2025

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Summary

Story summary

Chancellor Rachel Reeves unveiled a £39 billion investment in affordable housing, nearly doubling the prior budget.
This funding will assist local authorities and housing associations over the next decade to tackle the housing crisis.
The initiative aims to deliver 1.5 million new homes by 2029, marking a significant commitment to affordable housing.
A new rent settlement will permit social rents to increase by CPI plus 1% each year.

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Story summary

Chancellor Rachel Reeves unveiled a £39 billion investment in affordable housing, nearly doubling the prior budget.
This funding will assist local authorities and housing associations over the next decade to tackle the housing crisis.
The initiative aims to deliver 1.5 million new homes by 2029, marking a significant commitment to affordable housing.
A new rent settlement will permit social rents to increase by CPI plus 1% each year.