National Housing Federation: reflections on the budget

Looking back, what were the key housing announcements in the budget?

  • The next wave of strategic partnerships between housing associations and Homes England was announced, with ambitions to deliver 13,000 new homes
  • There will be a £500m boost to the Housing Infrastructure Fund
  • First-time buyers’ Stamp Duty relief will be extended to purchasers of shared ownership homes and Help to Buy will be reformed over the coming years, as part of its phasing out by 2023
  • The Housing Revenue Account (HRA) borrowing cap has been lifted from this week, allowing local authorities to borrow more to build new homes
  • £1.7bn package of measures including increases in work allowances, and a slower pace of overpayment repayments.  The cash injection must be used urgently to ensure that people are relieved from the financial and emotional distress, debt and arrears they have been experiencing under Universal Credit

“The substantial settlement for the NHS will mean that other public services and departments will continue to feel the squeeze, including Ministry of Housing, Communities and Local Government.

“But in line with the Prime Minister’s pledge to fix housing as the number one domestic priority, we will continue to make the case for more long-term support for housing associations as key partners in ending the nation’s housing crisis.”

– Jessica Levy

Public Affairs Manager at the National Housing Federation