In the run up to the Autumn Budget, the Chancellor pledged an additional £1.8bn to assist housing supply via land regeneration. The additional funds are aimed at delivering 160,000 new homes and comprises of two parts:
• £300m to be distributed to councils and combined authorities to help them unlock smaller brownfield sites for housing “and improve communities in line with their priorities.”
• £1.5bn to “regenerate under-used land and deliver transport links and community facilities.”
Mr Sunak said, “We are investing in better quality, safer, greener and more affordable homes to create thriving places where people want to live. Transforming our unloved and neglected urban spaces will help protect our cherished countryside and green spaces, while improving the physical and mental health of our communities.”
The Budget also:
• Reconfirmed £11.5bn through the Affordable Home Programme (2021–26)
• Promised an additional £65m investment to improve the planning regime through a new digital system
• Confirmed over £5bn to remove unsafe cladding from the highest-risk buildings.