BMF Welcomes Spending Review Boost For Affordable Homes

The BMF (Builders Merchants Federation) has welcomed a £39 billion boost for affordable housing announced by the Chancellor of the Exchequer, Rachel Reeves, in today's [11th June] Spending Review.

The BMF believes the investment is a major boost for the delivery of social and affordable housing, which will provide significant long-term market stimulus. The trade body also confirmed that the building materials supply chain is in good shape to support market growth.

John Newcomb, CEO of the BMF, said: 

“This is a major boost for house builders, housing associations and local authorities and a big increase on previous funding arrangements.

“The provision of additional funding will boost the building of much-needed social and affordable housing and provide the crucial market stimulus that the BMF and other trade associations have been asking for.

“As well as funding new developments, the extra money may help housing associations buy up thousands of new units that private developers have already built as part of their affordable housing commitments, which are currently empty because housing associations cannot afford to buy them.”

“BMF members have been actively strengthening their manufacturing, distribution and sales footprint across the UK, to ensure the availability of the building materials required to support housing growth.

“We’ve also launched one of the largest industry sector recruitment programmes, Building Materials Careers, www.bmcareers.com to attract the right talent and skills into the building materials supply network to further support the materials supply chain."

Source : BMF

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