With the Chancellor setting out billions in tax rises and spending cuts, our Group Chief Executive, Elizabeth Froude, gave her response to Jeremy Hunt's plans to tackle the cost of living crisis in The Autumn Statement.
"The housing sector supports a wide variety of customers on varying income levels and whilst the government is announcing a cap of 7 per cent it is very unlikely that any social landlord would have considered applying the Consumer Price Index plus 1 per cent formula rent, as we are too aware of how difficult times are already for our customers.
“Raising benefits by inflation will definitely help to soften the cost inflation of other living costs, but we will still need to support those that still face financial difficulties, as we have been since the start of Covid.
“Housing associations are feeling the effects of spiralling cost inflation at a time when the need to increase investment in the thermal efficiency of our homes is vital; having a rent increase which allows some offset of our cost increases and supports our customers is a much appreciated and sensible decision which will allow a level of ongoing investment to be maintained.”
Above: Elizabeth Froude, Group Chief Executive of Platform Housing Group