Our response to the Autumn Budget
In Rachel Reeves’ Autumn Budget, delivered today on Wednesday 26 November, the Chancellor outlined a welcomed significant change to child benefit, aimed at supporting lower income households as well as confirmation of full funding for the Warm Homes Plan. We continue to call for confirmation on the outcome of the consultation on rent convergence, announced in her June 2025 Spending Review, alongside the £39 billion funding for the next Affordable Homes Programme.
Here’s what Rosemary Farrar, our Chief Financial Officer said: “The removal of the two child benefit cap is a very welcome step toward reducing child poverty, which disproportionately affects families in social housing.
“We are also pleased to see the government maintain full funding of the Warm Homes Plan at £13.2 billion between 2025/26 and 2029/30. This funding will help to ensure our existing homes are made more energy efficient, making homes more affordable to our customers.
“The Budget follows the previously announced £39 billion Social and Affordable Homes Programme (SAHP), a vital investment in tackling the housing crisis. however, with homelessness up 20 per cent in two years and demand for social housing at record levels, we urge the government to help us accelerate delivery and remove barriers to development to enable us to build more homes for more families in need.
“We look forward to hearing a further announcement on rent convergence, to show the government has listened to the sector’s calls to help align rents fairly. An uplift of at least £2 per week from 2026 will ensure consistency in future Social Rent levels for our customers, whilst also generating income and unlocking private borrowing. This will enable Platform to invest more in our existing homes and effectively plan to deliver more homes for more people to help deliver the biggest increase in affordable housebuilding in a generation.
“Sustainability remains important to Platform, but the announcement of charging 3p per mile on electric vehicles is a disincentive to people moving to electric vehicles, as the perceived cost differential has been eroded.”
Rosemary concluded: “Affordable housing is more than bricks and mortar; it is the foundation for stable lives, stronger communities and economic growth. We are ready to work with national and local government, our partners and investors, to deliver good quality affordable homes that our communities need. We look forward to certainty on rent convergence and the publication of the new Social and Affordable Homes bidding guidance in the new year, so we can continue to build much more needed affordable homes and create stability for families across the Midlands.”
Photo caption : Rosemary Farrar, Chief Finance Officer at Platform Housing Group