Autumn statement 2024: the key news for Welsh housing associations and social housing tenants
UK Government has delivered its 2024 Autumn Statement. The first to come from Labour since 2010, it is focused on “fixing the foundations to deliver change”. Through the budget, the government has set out how it will start to deliver on its manifesto commitments to protect public services, stabilise public spending and deliver economic growth through investment.
So what are the key budget lines for social housing? And how will they impact Wales? Our policy leads have pulled together a full briefing for members, analysing each relevant point. Areas covered include:
Infrastructure and planning;
Decarbonisation;
Housing support fund and Discretionary Housing Payments;
Benefits and pensions, including reforms to the benefits system;
Tax, wages and employment; and
Block grant to Wales.
Access the briefing here.
What’s next for CHC?
Welsh Government will publish its draft budget on 10 December. Working with members, we will be driving forward calls to address the housing crisis in Wales, which is seeing an increasing number of people in temporary accommodation, and growing social housing waiting lists.
We want to show that we can build our way out of the crisis with new homes and repurposing existing buildings. To do that we need:
A sufficiently funded Housing Support Grant (HSG) - the primary revenue stream that prevents and responds to homelessness
Welsh Government’s 2024/25 budget saw an uplift of £13 million (7.8%) for the HSG to help address inflationary pressures in housing support services. Without investment at least in line with inflation for 2025/26 to pay frontline workers fairly, services will be reduced.
Capital funding for more homes through the Social Housing Grant (SHG) and Transitional Accommodation Capital Funding Programme (TACP)
These funds need to be protected and enhanced for inflationary increases, alongside an agile and pragmatic approach to funding. Where new developments have not progressed at the pace and scale required, the TACP creates additional accommodation capacity through remodelling, conversion, and using modular accommodation. This scheme has already allowed housing associations to access over £80 million of funding to create housing capacity and maximise the use of existing homes.
DAF protection, and improvements to the Welsh benefits system
The Autumn Statement saw £1 billion in spending (including Barnett) announced to support local authorities in helping those experiencing financial hardship through the Housing Support Fund (England Only) and Discretionary Housing Payments (England and Wales). We are calling on Welsh Government to protect this funding and to make improvements to the DAF system so it can quickly, fairly and reliably provide urgent assistance to those in need.
