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Treasury also confirms CPI plus 1% annual rent rises and a consultation on convergence in a major win for the affordable housing sector
The chancellor will tomorrow announce a £39bn Affordable Homes Programme (AHP) and a 10-year rent settlement in what appears to be a major victory for the social housing sector.
The Treasury has confirmed that the next AHP will run for 10 years, meaning £3.9bn of funding a year on average, a significant increase on the £2.5bn allocated annually under the 2021-26 programme once ‘top-ups’ were taken into account.
The amount is significantly more than the £25bn the Financial Times reported yesterday as being considered by Reeves. It appears that housing secretary and deputy prime minister Angela Rayner has ultimately come away with a better deal than expected following days of negotiations within Whitehall.
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