There was much fanfare in the Chancellor’s Autumn Statement yesterday (22 November) on tax cuts to help tackle the cost-of-living crisis and boost business investment and growth. But what were the Autumn Statement 2023 headlines for housing comms?
As promised, here is our handy guide to the key points for #ukhousing and also links to the key housing media coverage.
Autumn Statement 2023 Headlines
Benefits and cost-of-living
- The government will raise Local Housing Allowance rates in Great Britain to the 30th percentile of local market rents in April 2024. 1.6 million low-income households will be better off, gaining £800 on average in 2024-25, according to the government
- Increasing working age benefits in line with inflation, measured by September CPI which is 6.7% this year. The government is also maintaining the pensions Triple Lock. The basic State Pension, new State Pension and Pension Credit standard minimum guarantee will be uprated in April 2024 in line with earnings growth
Planning and housebuilding
- The Department for Levelling Up, Housing and Communities will bring forward plans for local authorities to offer guaranteed accelerated decision dates for major developments in England in exchange for a fee, ensuring refunds are given where deadlines are not met and limiting use of extension of time agreements
- An additional £32 million will be spent by the government across housing and planning to unlock thousands of homes across England. This includes additional funding to tackle planning backlogs in Local Planning Authorities (LPA), alongside further reforms to streamline the system through a new Permitted Development Right to enable one house to be converted into two homes
- £110 million will be made available through the Local Nutrient Mitigation Fund. This will support LPAs affected by nutrient neutrality rules to deliver high-quality local nutrient offsetting schemes, potentially unlocking up to 40,000 homes over the next five years
- Building on the success of the existing Affordable Homes Guarantee Scheme through a £3 billion extension which will help the scheme deliver 20,000 new homes, as well as improving the quality and efficiency of thousands more, according to government calculations
- The government is announcing a £5 million extension to June 2025 of the Public Works Loan Board policy margin announced in Spring 2023. This supports local authorities borrowing for Housing Revenue Accounts, and could provide savings and additional investment in social housing of as much as £150 million over the life of the borrowing, estimates the government
- Local Authority Housing Fund 3: The government is announcing £450 million for a third round of the Local Authority Housing Fund to deliver 2,400 new housing units to house Afghan refugees and ease wider housing and homelessness pressures. This will bring the total amount spent on the Local Authority Housing Fund to over £1.2 billion
Autumn Statement housing trade media coverage
Autumn Statement government press notice: https://www.gov.uk/government/news/chancellor-backs-business-and-rewards-workers-to-get-britain-growing
See Media offers PR and communications support to the UK housing sector and its suppliers. From podcasts to thought leadership, as well as crisis communications and digital publications, find out more about more our service offering (link opens in new tab) by calling 0121 827 6622 or e-mailing email@example.com.
Stuart Macdonald is Managing Director of See Media