Date published: 13 February 2025
The Government will deliver its Spring Spending review in June, nearly a year after their landslide election victory.
The Treasury’s multiyear review determines how funding will be allocated between departments.
Originally due to be announced in April, Chancellor Rachel Reeves in November 2024 pushed back the timing of the review until June.
Housing providers will be particularly interested in announcements in the context of Labour’s goal to build 1.5million new homes in England over the next five years.
Our recommendations are focused on areas which we believe will support the Government’s Plan for Change and mission to kickstart economic growth.
We welcome the commitment to build 1.5 million new homes and deliver the biggest increase in social and affordable housebuilding in a generation.
We believe that the following measures would assist in making these ambitions a reality.
What did we ask for?
- An extension of the Affordable Homes Programme beyond 2026, with increased funding to mitigate the impact of both higher inflation and higher interest rates
- Delivering long-term funding for the decarbonisation of social housing.
- Action to boost workforce skills with a Green Skills Strategy.
- Support for low paid workers at home.
- Investment in assistive technology that allows people to live independently at home longer.
Stonewater CEO, Nicholas Harris, said: “We continue to stand ready, along with other providers, to work closely with the Government to drive solutions to the housing crisis.
“Our recommendations ahead of the Spring Spending Review are focused on areas which we believe will support the Government’s Plan for Change and mission to kickstart economic growth.
“We welcome the commitment to build 1.5million new homes and deliver the biggest increase in social and affordable housebuilding a generation.
“However, we would urge the government to consider our recommendations to ensure longer-term certainty for development and decarbonisation of social housing, supporting low paid workers at home and investing in technology that allows people to live independently at home longer.
“We believe these measures will assist in making those ambitions a reality.”