England budget to include more than £1bn for social, affordable housing

Housing and regional investment

The government’s 10-year homes programme will receive more than £1bn for social and affordable housing in England. That will take total funding for the programme past £40bn. The Treasury says £285m in transitional seed funding will be allocated next year to mayors and local leaders. It is intended to reduce reliance on fragmented bidding pots in Whitehall and give regional leaders more flexibility over investment.

The funding could go towards new homes, revitalising high streets or improving transport links. Areas that are not yet strategic authorities may also apply for a share to support projects that contribute to local growth.

Mayors welcome devolution plans

Claire Ward, chairwoman of the UK Mayors Network and Labour’s East Midlands mayor, said increased devolution would provide the powers and resources needed to turn ambitious plans into reality and create lasting change for communities. The Budget preparations also faced a setback when Alex Depledge, the Treasury’s entrepreneurship adviser, announced she was leaving the role. She is due to depart on Thursday, the day after the Budget.

Breweries and defence debate

The chancellor is also expected to announce additional support for small breweries. The Treasury said he wants “to turn the tide for our pint producers”. Defence Secretary Wes Streeting responded that the Conservatives were responsible for failing to invest in the military while in government.