Budget 2016: Robust Support for Housing

Today the Chancellor unveiled his 2016 March Budget with robust support for housing. Announcements include 400,000 affordable housing starts by 2020/21, extra money to tackle homelessness, stronger housing planning powers, money for community led housing and £700m for flood defence systems.

The Chancellor gave the green light to major projects as recommended by the National Infrastructure Commission, including Crossrail 2, and High Speed 3 between Leeds and Manchester. The Chancellor said Investment in homes and infrastructure will ‘deliver real opportunity and social mobility.’ Our latest HFi report emphasised the importance of mapping the dependencies between major infrastructure projects and planned housing delivery to ensure that housing is delivered at pace. You can read the full report here: How to Build More Homes Faster, 2016.

The Budget recognised the important role of Councils working to deliver homes and free up building land “for the first time ever Local Authorities are collaborating with central government on a local government land ambition, working with their partners to release land with the capacity for at least 160,000 homes…”.

The Housing and Finance Institute (The HFi) was announced in the Budget 2015, with the aim of supporting Councils and Businesses to accelerate housing delivery across the country. A year on from this announcement, the Institute has been established and continues to work with partners from across the sectors to achieve our goal of accelerating the delivery of housing, finance and investment for new homes. Our specially designed Housing Business Ready programme helps Councils to display leadership and clarity in their housing strategies.

This year has been a good year for housing, with DCLG figures showing housebuilding rates surge across various sectors. However, there are still ways in which we can unlock greater capacity for housing delivery, working together for the homes we need. Together, we can take steps to turn that extra capacity into extra homes by building more homes, faster. Find out more about our work here.