“Theresa May’s Extra £2billion For Affordable Homes Funded By Cuts To Other Housing Schemes”

“… HuffPost UK has discovered that tucked away in the Office for Budget Responsibility’s analysis of the Chancellor’s Budget last week is the truth about where that £2billion money is coming from.

It is not new money, and is instead being raised “by reducing spending on ‘accelerated construction’ and ‘starter homes’ across the four years from 2017-18 to 2020-21. …

… The OBR claimed his policy of scrapping stamp duty for first-time buyers on the first £300,000 of a home would actually drive up prices – although this was disputed by the Chancellor.

Housebuilding figures released today by the Government show 199 homes for social rent were completed between April and September this year, compared to 10,597 completed over the same period in 2009.”