Budget to Include £1bn for Social and Affordable Housing

Source reports published 25 Oct 2026, 12:57 pm – 26 Oct 2026, 3:55 pm AEST

The UK government plans to allocate £1 billion to social and affordable housing in England, alongside increased powers and funding for regional leaders. This initiative aims to provide greater flexibility and authority for local investment decisions.

What happened

• Chancellor John Healey announced a £1 billion investment in social and affordable housing in England as part of the government's 10-year homes programme.
• Healey stated that this would give English cities and regions "the right to decide their own future".
• The government intends to provide transitional seed funding of £285 million to mayors and local leaders, aiming to reduce reliance on fragmented funding streams.
• The plan also includes a new £1.5 billion borrowing facility from 2028, which could be used for new homes, high street regeneration, or transport improvements.
• Claire Ward, chairwoman of the UK Mayors Network, emphasized that increased devolution would help deliver "real, lasting change" for communities.
• However, Treasury advisor Alex Depledge resigned from her role, citing concerns that start-ups were being treated as a "sideshow".
• The Shadow Chancellor, Andrew Griffith, called for Healey to resign if he fails to set out plans to spend 3% of the UK's GDP on defence by 2030, highlighting the need for increased military investment.

Original reporting

• BBC: Budget to include £1bn for social and affordable housing
  2026-10-25T02:57:30.972000+00:00
• ABC: Coalition says cuts to climate, housing and more would save $31b
  2026-10-26T05:55:16+00:00