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The Government is committed to increasing the supply of social housing and has made £9 billion available through the Affordable Homes Programme to March 2022 to deliver 250,000 new affordable homes of a wide range of tenures, including social rent
Our expanded programme will now provide a wider range of homes to meet the housing needs of a range of people in different circumstances and different housing markets – building the right homes in the right places
We have listened to the sector. We have increased the size of the Affordable Homes Programme and re-introduced social rent to it, lifted the Housing Revenue Account borrowing cap for local authorities, and are setting a long term rent deal for councils and housing associations in England from 2020.
In September 2018, the Prime Minister announced an additional £2 billion of long term funding certainty for housing associations. This extra funding will deliver more affordable homes and stimulate the sector’s wider building ambitions, through strategic partnerships
Our ten year funding commitment marks the first time any government has offered housing associations such long-term funding certainty.