Budget 2021: briefing for housing associations

On 3 March, the Chancellor presented his budget to Parliament. It contained a range of measures to support industry and individuals through the pandemic, including an extension to the furlough scheme and grants, loans and VAT cuts for businesses. It also included actions designed to help the economy recover from the impact of coronavirus.

The Budget, and announcements made in the run up to the Budget, include measures of direct interest to housing associations, including commitments that we called for in the NHF submission to the Budget. Key announcements include:

• An extension of the £20 uplift in Universal Credit for six months.

• Measures to support home ownership, including an extension to the stamp duty holiday and a new mortgage guarantee scheme.

• The creation of a MMC Taskforce, backed by £10m of seed funding, to accelerate the delivery of Modern Methods of Construction (MMC) homes.

• More detail on the £4.8bn Levelling Up Fund announced in last year’s Spending Review, including guidance on how to submit bids for funding.

• An additional £19m over two years to support survivors of domestic abuse.

• A commitment to bring forward exemptions to the Shared Accommodation Rate.

This briefing provides further detail on each of these announcements, focused on our original calls: to build back safer, better, and stronger. It covers updates on building safety, decarbonisation, levelling up, welfare support, and supported housing (including specific announcements on domestic abuse and homelessness).

You can also read our original press response, or read the Budget in full on the government’s website.

Download briefing (7 pages)