NHF response to the Chancellor's Spring Budget 2023

Today, Chancellor of the Exchequer Jeremy Hunt delivered his Spring Budget for 2023. 

People on the lowest incomes in this country are being hit hardest by the rising cost of living and a worsening housing crisis. We are pleased to see that today’s Budget recognises the critical need for families to have further support with rising energy bills after April.

However, even with the Energy Price Guarantee in place, energy costs have doubled in the past year, and it is predicted this could force 7.5 million households into fuel poverty. We urge the government to consider a social tariff for those on the lowest incomes in the longer term.

We have some of the oldest homes in Europe and many towns and cities across the country are in need of serious investment. The £750m of regeneration funding is welcome, but more investment could be targeted at improving the quality and energy efficiency of the country’s homes, which would contribute to both energy security and achieving our net zero goals, as well as helping to level up left behind communities.

We also look forward to hearing more detail about the proposed Investment Zones, and we want to work with the government to ensure that building affordable homes is central to creating prosperous communities.

Following the devolution deals with Greater Manchester and the West Midlands, we look forward to working closely with these areas to ensure we are building the affordable homes that are needed for local communities. We also welcome further funding towards homes for veterans, which will help housing associations provide specialist homes and support.