Response to Autumn Budget from NHF

October 30, 2018

Responding to the Autumn Budget, Kate Henderson, Chief Executive of the National Housing Federation, said:

Housing

“The Chancellor’s announcements on housing today are not the wholesale changes needed to fix our broken housing market.

“We desperately need tens of thousands more social homes to be built every year, which is why we are disappointed that the Government has missed a real opportunity to overhaul how land is sold.

“The current set up means last year landowners pocketed more than the global profits of Amazon, McDonald’s and Coca Cola combined, raising the cost of land and making it almost impossible for organisations who want to buy land for social housing to afford it.

“More of this profit must be used for building social housing. The housing crisis will never be solved until the price of land radically changes.”

Universal Credit

“It’s good to see the Government address some of the problems with Universal Credit. Housing associations have been saying for a long time that for many it is not working.

“Despite extra support from housing associations, many people in social housing are being pushed in to financial and emotional distress, debt and arrears under Universal Credit due to the five week gap before the first payment, delays in receiving their monthly payments, mistakes made by the system and a lack of information. People on Universal Credit are more than twice as likely to be in debt compared to all other social housing tenants.

“This promised £1bn cash injection must be used to urgently resolve as many of these problems as it can. Similarly, the promise to increase work allowances by £1,000 is welcome, but the Government must ensure people receive the money they desperately need, when they need it, before even more people are moved on to the system.”

Source of information NHF

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Breaking News

Homesellers face months of delays

The latest market analysis from House Buyer Bureau has revealed that home sellers in some parts of the country are facing Local Authority search waiting times of more than 90 days, with growing legal bottlenecks increasingly putting transactions at risk before they reach the finish line.   House Buyer Bureau analysed the latest Local Authority…
Read More →
can you drink tap water
Letting Agent Talk

What tenants really want from a HMO in 2026

By Allison Thompson, Chief Lettings Officer, Leaders part of LRG   Houses in Multiple Occupation (HMOs), also referred to as multi-lets or room rentals, have come a long way in the past couple of decades. Once thought of as very much at the bottom of the accommodation pile, with a reputation for being sub-standard, many…
Read More →
Estate Agent Talk

Rethinking Property Transactions Starts with Communication

By Cara Stanbridge, Head of Relationship Management at Nova Legal   Across the UK property market, transactions are in turmoil. Ongoing economic pressures are impacting house prices, mortgage deals, and overall demand, reflecting the uncertainty nationwide. In fact, a recent study found that for those who are taking the plunge to buy or sell this year,…
Read More →
Breaking News

B2L mortgage costs climb 64% in a decade

The latest research from London lettings and estate agent, Benham and Reeves, has revealed that the average monthly cost of a buy-to-let mortgage has climbed by as much as 64% over the last decade, as landlords continue to face mounting financial pressure alongside sweeping reforms introduced via the Renters’ Rights Act.   Benham and Reeves…
Read More →
Breaking News

Breaking Property News 13/5/26

Daily bite-sized proptech and property news in partnership with Proptech-X.   Renters’ Rights Act: What Estate Agents Need to Understand About the Tenant Impact   Author Andrew Stanton Editor EAN   The Renters’ Rights Act represents the biggest structural shift to the private rented sector in decades, and while much of the conversation has focused…
Read More →
Breaking News

First-time buyers bear the brunt of mortgage mayhem

Moneyfacts UK Mortgage Trends Treasury Report data reveals that despite mortgage turmoil easing in April, first-time buyers remain under pressure from reduced choice and stretched affordability. Mortgage product choice has contracted by around 10% since the start of March, with higher loan-to-value deals (10% or less deposit or equity) falling by 14%, a blow to…
Read More →