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Chancellor John Healey to allocate 1bn pounds for social housing

Chancellor John Healey will announce more than 1bn pounds for English social and affordable housing in Wednesday's Budget, BBC News reported.

FTMQ News, written by our newsroom25 October 2026 at 03:100 views

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Picture: BBC News

More than 1bn pounds for social and affordable housing in England will be included in the upcoming Wednesday Budget, BBC News reported. The funding will bring total investment in the government's 10-year housing programme to over 40bn pounds. [1]

Regional leaders and mayors across England are expected to receive increased authority and funding under the new plans, according to BBC News. Local councils will also receive assistance to borrow money from the government at preferential interest rates to fund homebuilding. [1]

Chancellor John Healey stated that English cities and regions would receive the power to determine their own futures, BBC News reported. Prime Minister Andy Burnham said the measures were designed to shift decision making authority to regional leaders. [1]

As FTMQ News reported earlier, Chancellor John Healey will present his budget statement on Wednesday. The budget will also introduce a 1.5bn pounds regional borrowing facility for mayors over the next two years to support economic growth. Andy Burnham became Prime Minister in July 2026. [2]

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In short

Wednesday's Budget will include over 1bn pounds for social and affordable housing in England.
The package will raise funding for the 10-year homes programme above 40bn pounds.
Local councils will be allowed to borrow money at preferential interest rates to build homes.
The budget will introduce a 1.5bn pounds regional borrowing facility over two years.

Sources

Every paragraph above points to the numbered items it rests on. Read the originals here.

[1]Budget to include £1bn for social and affordable housingBBC News, 1h ago (the report this story comes from)

Background

[2]Chancellor John Healey to announce regional borrowing power in budget FTMQ News, 6h ago
[3]Tens of thousands protest across Spain after parliament rejects housing decrees FTMQ News, 21d ago

Our newsroom writes these reports with the help of software, from the 3 sources listed and nothing else, and checks them against those sources. Facts can still be wrong or move on; the originals are the record. Spotted a mistake? Write to daniel@monsterkong.com.

Earlier reports of ours on the same people and subjects.

UK chancellor to announce seven million pound fund for Northern Olympics bidTop Stories, 12h ago
Chancellor John Healey to announce regional borrowing power in budgetTop Stories, 6h ago
UK national debt reaches three trillion pounds as inflation risesTop Stories, 3d ago
Marks and Spencer chief urges Chancellor John Healey to cut business taxesTop Stories, 15d ago
Chancellor John Healey backs Heathrow third runway despite Prime Minister hesitationTop Stories, 7d ago

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