UK Budget Allocates £1 billion to Social and Affordable Housing, Expands Mayoral Powers

In the latest Budget, Chancellor John Healey announced that England will receive an additional £1 billion for social and affordable housing, pushing the government’s ten‑year homes programme over £40 billion. The announcement also grants mayors and regional leaders greater powers and funding, including an initial £285 million of transitional seed money and a planned £1.5 billion borrowing facility from 2028 to support local investment decisions. Healey said the move gives “the right to decide their own future” to cities and regions, while Prime Minister Andy Burnham highlighted that the plans shift power to those who “know their communities best.” The Treasury also pledged support for small breweries and hinted at forthcoming defence spending, though details will be released next year. The expanded devolution is expected to enable local leaders to finance new homes, revitalize high streets, improve transport links, and pursue transformational infrastructure projects such as the West London Orbital and extensions to the Bakerloo line.