Our comment on Rachel Reeve’s Spending Review

John Bigwood, Chief Financial Officer at Black & White Bridging , said: “This is fantastic news and a major boost for housebuilding in a sector that has been neglected for too long. “Demand for social housing has been increasing year on year, with waiting lists exceeding1.3 million households at the end of March 2024, marking a 10 % rise in just two years, while the sector actually experienced a net loss of 650 homes in 2023–24 due to sales and demolitions. “With today’s Spending Review announcing a £39 billion package over the next decade—the largest injection into social and affordable housing in over 50 years—and an additional £10 billion for Homes England to leverage private investment, this investment will be a major boost to the housebuilding industry, addressing an urgent need throughout the UK.”