The Chancellor has announced a major £2 billion funding package aimed at delivering up to 18,000 new social and affordable homes—marking the biggest boost in a generation for families in
need of safe, secure housing.
This landmark investment is part of the Prime Minister’s Plan for Change, a broader strategy to grow the economy, support working families, and build 1.5 million new homes across the country.
The funding will be focused exclusively on housing developments that can begin construction and deliver homes within the current Parliament, helping to fast-track building in key areas like Manchester and Liverpool.
Announced during a joint visit to an affordable housing site in Stoke-On-Trent by the Chancellor and Deputy Prime Minister, the move underscores the government’s commitment to reviving housebuilding, driving economic growth, and tackling the housing crisis head-on.
In addition to boosting housing supply, the plan supports job creation in the construction sector. The government is investing in training 60,000 new construction workers—including engineers, bricklayers, and carpenters—to meet growing demand and provide new career opportunities.
This £2 billion investment serves as an initial down payment, with further long-term funding for social and affordable housing expected later this year. The goal is to ensure that construction begins on thousands of new homes by March 2027, with completion targeted before the end of this Parliament.
Providers are now being encouraged to submit proposals promptly to accelerate delivery and help more people across the UK achieve the dream of a home of their own.
This announcement is a critical step in building a stronger future for Britain’s working families—one that starts with a solid foundation: a home.