UK's Reeves Commits £39 Billion to Build More Affordable Housing
Chancellor of the Exchequer Rachel Reeves committed £39 billion ($52.6 billion) to affordable housebuilding in the UK spending review, as the government seeks to regain momentum in its bid to build 1.5 million homes.
Reeves detailed the 10-year funding plan on Wednesday, describing the program as the 'biggest cash injection into social and affordable housing in 50 years.' The money is designed to help the Labour Party meet its housebuilding target over five years — an ambition that has been highly scrutinized by the property industry.
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