The Chancellor bounced into Westminster this week to deliver the Spring Statement, where he proclaimed he was feeling positively 'Tigger-like' at the good news he had to impart. But does this spring in his step extend to the PRS?
This briefing, arranged by the NLA's policy team, sets out the key policy announcements impacting on the private rented sector (PRS) and landlords’ interests.
The headline announcements included:
- West Midlands Housing Deal. A £100 million funding boost to the West Midlands for a housing package to support the mayor’s ambitious target of delivering 215,000 homes by 2030 to 2031.
- Funding boost to build affordable homes in the capital. A £1.67 billion funding package for London – to build 26,000 more of the affordable homes that are desperately needed by working families struggling with the costs of rent.
- Extra funding to diversify the house building market. £60 million investment has also been announced to boost the Housing Growth Partnership fund that supports small and medium sized housebuilders enabling them to invest in housing projects and develop their businesses so they can play their part in getting Britain building again.
- Early review findings to tackle barriers to building. Early findings of the independent review to understand why hundreds of thousands of homes haven’t been built, despite having planning permission has been published in a letter to the Chancellor and Sajid Javid.
The full NLA briefing also contains updates and upcoming changes in existing schemes from government and Office for Budget Responsibility (OBR) in the housing sector, including:
- The ban on letting fees.
- Right to buy for Housing Association Tenants.
- Support for Mortgage Interest.
- Stakeholder & Opposition Reactions.
- Updates on Right to Buy and Help to Buy.
- Review on the Construction Industry Skills Gap.
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