27th September 2018
PM pledges extra £2bn for social housing

Theresa May threw her backing behind the housing association sector on Wednesday, 19th September, in a landmark speech to the National Housing Summit.

Becoming the first serving prime minister to appear at a housing sector conference, Theresa May spoke about how she felt the social housing had been let down by successive governments, saying” I was shocked to discover that this is the first time in history any prime minister has spoken at what is the biggest event on the housing association calendar. To me, that speaks volumes about the way in which social housing has, for too long and under successive governments, been pushed to the edge of the political debate. At best taken for granted, at worst actively undermined.”

To redress this, and as part of Teresa May’s “personal mission to fix our broken housing system, ”the prime minister told delegates at the National Housing Summit that she would commit an extra £2bn to social housing and would enable associations to apply for funding as far ahead as the 2028-29 financial year. New longer-term partnerships will be opened up to the most ambitious housing associations through this groundbreaking initiative.

Social housing providers have welcomed the commitment by the prime minister to allow financing deals lasting up to a decade. Following the prime minister’s announcement, the government’s housing delivery agency, Homes England, has stated that this £2bn will not be folded into the £9bn current Affordable Homes Programme, but will instead be available when that programme ends in March 2022.

David Orr, chief executive of the National Housing Federation — which represents housing associations — said: “The really big news here is the prime minister’s long-term commitment to funding new affordable homes. This represents a total step change.”

Rund welcomes this commitment by Theresa May, which gives a major vote of confidence for the sector. And here at Rund, we are committed to working with the sector to step up to the challenge of delivery, both in terms of new homes and the management of existing estates, in return for this renewed government commitment and financial backing for the social housing sector.

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