Chancellor of the Exchequer Rachel Reeves has announced a £39 billion ($52.6 billion) commitment towards affordable housing in the UK as part of the government’s spending review. This initiative aims to support the construction of 1.5 million homes over the coming years. During her address on Wednesday, Reeves outlined a 10-year funding strategy, calling it the “largest financial boost to social and affordable housing in five decades.” The funds are intended to assist the Labour Party in achieving its goal of significantly increasing the availability of affordable homes within a five-year period, a target that has drawn considerable attention from the property sector.
— new from Bloomberg
