Chancellor Proposes 'Housing Bank' and £25 Billion Social Housing Boost

Chancellor Rachel Reeves is set to announce the creation of a 'housing bank' by redesignating Homes England as a public financial institution, enabling it to offer cheaper financing to developers.

As part of the upcoming spending review, the government is also considering a funding settlement of up to £25 billion to support social housing initiatives, aiming to meet its target of delivering 1.5 million new homes during this Parliament.