David Orr, Chief Executive at the National Housing Federation, says:
"Today’s announcement is a watershed moment for the nation. In the aftermath of the tragic fire at Grenfell Tower, the Prime Minister said that we as a nation have not paid enough attention to social housing. Today, she is right to make a bold break with the past and commit to building the homes we need most – genuinely affordable homes for those on the lowest incomes.
"The additional £2bn will make a real difference to those let down by a broken housing market. Building homes for social rent will make work pay and help bring down the housing benefit bill in the long run by moving people out of costly private lets.
"Housing associations have been unequivocal about their ambition to deliver the homes the nation needs, be that homes to rent or homes to buy. Improved access to finance and land will see housing associations able to unleash their full potential, building on the 48,000 homes they started last year.
"Building with housing associations represents excellent value for taxpayer money; for every £1 the Government puts in, housing associations raise a further £6. We are ready to work with the Government to deliver a new generation of genuinely affordable, high quality homes for rent."