Rachel Reeves Unveils £500m Boost for Affordable Housing

The Budget announcement aims to build 5,000 council homes and curb Right to Buy discounts to address the UK's housing crisis.

The £500 million funding will supplement the Affordable Homes Programme, targeting the construction of 5,000 new social homes.
Planned reductions in Right to Buy discounts aim to retain council housing stock and support long-term affordability.
A consultation on a five-year social housing rent settlement is proposed to provide financial stability for housing providers.
Experts warn that significant additional investment is needed to meet the government's target of 1.5 million new homes.
Current housing pressures include over 1 million households on social housing waiting lists and record temporary accommodation costs.