THE Chancellor of the Exchequer, Sajid Javid MP has promised his forthcoming Budget will usher in a “decade of renewal”, but it remains to be seen whether this will extend to social housing.
Nevertheless, with the launch of the Budget process today, Javid has opened the door to the housing sector to submit its case for more investment.
The Budget will take place on Wednesday, 11 March 2020.
“People across the country have told us that they want change. We’ve listened and will now deliver,” the chancellor said. “With this Budget we will unleash Britain’s potential – uniting our great country, opening a new chapter for our economy and ushering in a decade of renewal.”
This promise of change, and “levelling up” the whole country was set out during a visit to the new £350 million Trafford Park tram line project in Manchester.
Infrastructure and changes to the rules on how government cash is allocated to the regions is expected to form an important part of the package.
The Treasury claims the Budget will deliver the Government’s promises on tax and to help tackle the cost of living for “hard working people”. In theory, given the impact of housing costs, that ought to include provision for housing, but theory and political practice don’t always go hand in hand.
The Budget will also prioritise the environment and build on recent announcements to boost spending on public services. These include investing in new hospitals, training thousands of new police officers, funding vocational education and what the Government claims will be the biggest ever cash increase to the National Living Wage.