Building Societies Association comments on the Autumn Budget 2024

Robin Fieth, Chief executive of the Building Societies Association (BSA), comments on the Autumn Budget 2024.

“After years of insufficient house building, the announcement from the new Chancellor in today’s Budget (30 October 2024) of an additional £5 billion of funding to deliver more housing was good to hear.

“We particularly welcome the increased support to smaller housebuilders as a route to help achieve house building targets.  

“We need a range of properties across all tenures, including affordable housing schemes, to tackle the UK housing crisis.

“We therefore welcome the increase to the Affordable Homes Programme to £3.1 billion.

“It is now essential that there is a clear affordable homes strategy which builds on existing, successful schemes, such as shared ownership. 

“We hope the Government will commit to working with all stakeholders, including lenders, the wider housing market industry and the public, to create a long-term housing strategy with the sole aim of making homes more available, more affordable and more appropriate to the needs of those living in them.

“We stand ready and willing to support them with this.”

Kindly shared by The Building Societies Association (BSA)