Money matters
The submission to the comprehensive spending review from the leading bodies in the social housing sector marks the start of some tough negotiations.
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One of the main demands in the joint document from the Chartered Institute of Housing, National Housing Federation and National Federation of Arm’s-Length Management Organisations is for £9.5 billion to invest in new homes over four years.
That this represents a 15 per cent drop in nominal terms, or a 25 per cent drop in real terms, compared with current funding levels reflects the circumstances the housing sector finds itself in. The days of large-scale capital investment may be over, but the sector can still play a key role in meeting the aims of the coalition government.
How effectively this case can be made to ministers and officials will determine whether the sector is left in a viable position to meet housing need once government spending plans are revealed on 20 October.