Business / NEWS UPDATE
Budget to include £1bn for social and affordable housing
Published · 1 min read
The UK government is set to allocate over £1 billion for social and affordable housing in England, bringing the total funding for a 10-year programme to more than £40 billion.
Chancellor John Healey announced plans to give mayors and regional leaders greater powers and funding, including access to preferential interest rates for borrowing to invest in house-building. The government also plans to provide £285 million in transitional seed funding and a new £1.5 billion borrowing facility from 2028 to support local priorities. Additionally, the Budget will include support for small breweries, with the aim of boosting the UK's brewing industry.