L&Q's response to mini-budget

Fiona Fletcher-Smith, Group Chief Executive at L&Q, said:

“We welcome the commitments in today’s budget for expanding home ownership, decarbonising homes, and simplifying the planning system.

With the end of Help to Buy looming, cuts to stamp duty may help more first-time buyers home ownership dreams become a reality. However, there remains a chronic shortage of affordable housing across the country, and more government support will be essential to ensuring the delivery of homes of all tenures, including social rent.

Reducing our greenhouse gas emissions is a top priority for housing associations, who are keen to take a lead in tackling climate change. The additional £2.1bn for energy efficiency projects is welcome news and will support us in meeting our net zero ambitions.

It is encouraging to hear the government plans to simplify the planning system and free up public land for housing. We look forward to seeing further details, but it’s vital that reforms continue to deliver much-needed affordable homes.

As energy costs soar, we are concerned about the implications of changes made to Universal Credit for our residents. With many low-income households already struggling to afford the cost of living, reductions in benefits may exacerbate the worrying trends we are already seeing.

We look forward to continue working with the government on our shared ambition to provide high-quality homes whilst investing in communities across the country.”