NHFC Responds to Spring Budget 2024

On March 6, 2024, Chancellor of the Exchequer, Jeremy Hunt, presented the Spring Budget. In reaction, Kate Henderson, Chief Executive of the National Housing Federation (NHF), expressed disappointment, stating:

"We’re disappointed that this year’s budget was not used as an opportunity to address the housing emergency and chronic shortage of affordable homes across the country."

While measures like the extension of the Household Support Fund provide relief for struggling families, urgent action on housing is imperative. With child homelessness at record levels and overcrowded homes affecting 1 in 6 children, a change of approach is essential.

NHFC's Recommendations for the Spring Budget 2024

NHFC advocated for:

• Protecting vital homeless services by boosting and ring-fencing funding for housing-related support.

• Relieving homelessness through investments in prevention advice, support services, and financial aid for affected families.

• Making increased support available to all low-income households through the benefits system.

• Reinstating funding for the Housing Transformation Fund to integrate housing into health and social care systems.

• Ensuring equal access to government building safety funding for housing associations.

• Delivering more social homes through longer-term funding for regeneration programs and streamlined planning processes.

• Implementing a long-term, inflation-linked rent settlement and committing to decarbonizing housing stock.

• Extending zero-rate VAT relief for energy-saving materials and providing new burdens funding for the Decent Homes Standard review.

NHFC also called for support for low-income residents with energy bills through reopening the Energy Bill Support Scheme Alternative Funding and introducing an energy social tariff.

Join NHFC in advocating for these crucial initiatives to address the housing crisis and create safer, more affordable homes for all.