Chancellor Rachel Reeves is to double Government spending on affordable housing to £39bn, in what she described as “the biggest cash injection into social and affordable homes in 50 years".

Delivering her Spending Review today, Reeves said the funding will be spent over 10 years for local authorities, private developers and housing associations – a major increase on the previous programme.

She will also allow social landlords to raise rents by 1 percentage point above inflation for the same period.

“This Government is renewing Britain, but I know too many people in too many parts of the country are yet to feel it,” she stated.

“This Government’s task – my task – and the purpose of this spending review is to change that. To ensure that renewal is felt in people’s everyday lives, their jobs, their communities.”

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