The chief executive of Bradford-based Manningham Housing Association has backed the Chancellor’s commitments to a £39 billion Affordable Homes Programme and a 10-year rent settlement announced in today’s Spending Review.
In a statement, Lee Bloomfield said:
“For far too long, housing associations have faced an impossible task in trying to provide enough decent homes for those who need them with insufficient Treasury support.
“The Chancellor’s decision to increase spending on the Affordable Homes Programme from £2.3 billion a year to £3.9 billion a year and extend the length of the scheme from five years to 10 years delivers resources to build many more properties and offers greater financial stability for the sector.
“Similarly, the 10-year rent settlement, which will see social housing rents rise by CPI plus 1% annually, allows housing associations to plan ahead with much greater confidence.
“I also welcome the Chancellor’s decision to reform the Treasury’s Green Book rules, which will enable the Government to invest bigger sums outside of the South East and into areas such as Bradford and Keighley.
“In the past week, Rachel Reeves has announced funding to replace Bradford Interchange with a new bus station, as well as the capital to finally deliver a mass transit system for West Yorkshire.
“The people of Bradford district have heard similar promises from previous Governments, and many will be understandably sceptical.
“In the year when Bradford is in the spotlight as UK City of Culture 2025, we must hope that this is the moment when the visions for positive change can finally be transformed into reality.”