Economy · London, United Kingdom · October 25, 2026

UK budget to add £1 billion for social and affordable housing

Reported by 3 outlets · first reported Oct 25, 3:06 AM ET

Chancellor John Healey will deliver his first budget on Wednesday, October 28. It will include an extra £1 billion for social and affordable housing. The money takes the 10-year housing program to more than £40 billion. Some firms say they are holding back on hiring until they see whether employment costs fall.

Why it matters

The budget will set taxes and spending affecting households and employers across Britain.

Background

This is the first budget of Prime Minister Andy Burnham's government. The Treasury is under pressure to raise money without raising income tax.

The story so far

1. Oct 21UK inflation rises to 3.5% on higher fuel prices
2. Oct 25UK budget to add £1 billion for social and affordable housing
3. Oct 26UK Budget due Oct. 28
4. Oct 27UK Budget: minimum wage rise, no extra for 18-20s
5. Oct 28UK budget: £100 energy payment, bank tax rise, more defense
6. Oct 29UK Budget freezes tax thresholds

Follow the whole story →

Sources

• BBC Business ↗Oct 25, 6:03 AM ET
• BBC Business ↗Oct 25, 3:06 AM ET

This summary was written automatically from the reporting linked above; follow the sources for the full story. How One Turn works.

See it on the globe →All of Oct 25's stories