National Housing Federation submit budget review

This is a summary of the Autumn Budget and Spending Review Submission 2024 (12 September 2024) submitted by the National Housing Federation:

Housing associations are crucial in their communities, supporting growth, public services, and energy efficiency efforts across the UK. They already contribute significantly to affordable housing, with a track record of building homes, improving energy efficiency, and reducing welfare costs. For every £1 of public funding, they unlock £4 of private investment, and they save residents and the government billions annually.

Key recommendations:

Mission: Kickstart Growth (1.5m New Homes)
- A 10-year rent settlement with annual CPI+1% rent increases to boost capacity.
- Expanding and boosting the Affordable Homes Programme (AHP), including funding for social rent and shared ownership.
- A long-term AHP with at least £4.6bn per year from 2026.
- Adjustments to welfare systems and changes to the Economic Crime Levy for housing associations.
Mission: Safe and Decent Homes
- Equal access to the Building Safety Fund and Cladding Safety Scheme for social landlords.
- Removal of VAT on building safety works and energy-saving materials.
- Development of a £2bn per year Social Housing Investment Fund for safety, decency, and decarbonization.
Mission: Clean Energy Superpower (Warm Homes Plan)
- Expanding Wave 3 of the Social Housing Decarbonisation Fund in line with the Warm Homes Plan.
- Supporting heat pump and heat network installations and implementing the National Infrastructure Commission’s recommendations.
Mission: Build an NHS Fit for the Future
- Emergency revenue funding for local authorities for housing-related support.
- Long-term funding of at least £1.6bn per year for supported housing.
- Reinstating the £300m Housing Transformation Fund.
- Committing to build 167,000 more supported homes by 2040.