Budget 2024 latest: Angela Rayner ‘handed £1bn budget boost for housing revolution’
Speculation is mounting ahead of 30 October
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Housing secretary Angela Rayner is planning to double the number of council homes after receiving a boost in the budget, according to reports.
The deputy prime minister is set to announce nearly £1billion to begin a “council housing revolution” and build tens of thousands of extra homes, The Times reported.
Ms Rayner believes council housing is crucial for the government’s target of 1.5 million new homes in the next five years.
As part of the plan, the deputy PM is also set to crack down on the Right to Buy scheme, which allows council house residents to buy their homes below market value, according to The Times.
A senior government source told The Times: “Angela’s ambitions on social and council housing have the full backing of the prime minister and chancellor, and that will become even clearer in the weeks ahead.
"They are joined at the hip when it comes to getting Britain building.”
We’ll be bringing you all the latest updates ahead of the big event on 30 October here, on The Independent’s liveblog.
What should I do with my savings ahead of the Budget?
Ahead of the Budget on 30 October, there has been fevered speculation about changes to pension savers’ tax allowances and other perks.
Reports that pensioners could have tax breaks cut or axed led to savers withdrawing chunks of their retirement pots ahead of Chancellor Rachel Reeves’s big announcement.
What should I do with my savings ahead of the Budget?
Reports that pensioners could have tax breaks cut or axed have led to savers withdrawing chunks of their retirement pots ahead of the chancellor’s announcement
The real problem facing Rachel Reeves over the death tax...
... is that not only is it deeply unpopular, cautions James Moore – but it’s only a drop in the ocean when it comes to plugging the UK’s vast fiscal black hole
The real problem facing Rachel Reeves over the death tax...
... is that not only is it deeply unpopular, cautions James Moore – but it’s only a drop in the ocean when it comes to plugging the UK’s vast fiscal black hole
Tax-free cash withdrawals ‘surge while pension contributions plummet’ as savers panic over Budget rumours
Retirees are rushing to withdraw cash from their pensions ahead of feared cuts to tax-free benefits in the Budget, the boss of one of Britain’s top investment platforms has said.
Savers can typically take 25 per cent of their pension as a lump sum, up to a limit of £268,275, allowing them to avoid paying income tax, but Chancellor Rachel Reeves is reportedly considering a cut to the amount savers can withdraw without triggering a payment to HM Revenue & Customs.
Tax-free cash withdrawals surge as savers panic over Budget rumours
A shake-up of the UK’s generous pension tax allowances has been feared for several years as chancellors search for ways to raise money without further indebting the country or raising income tax
Workers set for income tax hike as Rachel Reeves ‘to extend freeze on thresholds’
Workers set for income tax hike as Rachel Reeves ‘to extend freeze on thresholds’
Conservatives have accused Keir Starmer and Rachel Reeves of preparing to break a manifesto pledge
ICYMI: How make-or-break Budget has fractured Keir Starmer’s cabinet
Rachel Reeves’ Budget is a make-or-break moment for Sir Keir Starmer’s government, potentially sparking a decade of national renewal – or sowing the seeds of Labour’s downfall.
The prime minister’s poll ratings are at rock bottom after just over 100 days in charge, and the much-hyped “tough choices” to be unveiled on October 30 will likely do little to help boost his appeal.
How make-or-break Budget has fractured Keir Starmer’s cabinet
With the prime minister’s poll ratings at rock bottom, Sir Keir Starmer is grappling with cabinet unity ahead of Rachel Reeves’ Budget, writes Political Correspondent Archie Mitchell
Keir Starmer’s cabinet is rebelling – what took them so long?
Led by Angela Rayner, several cabinet ministers have broken ranks on the chancellor’s demand for swingeing budget cuts – and the only winner from this early breakdown of party discipline will be the prime minister, says John Rentoul
Starmer’s cabinet is rebelling – what took them so long?
Led by Angela Rayner, several cabinet ministers have broken ranks on the chancellor’s demand for swingeing budget cuts – and the only winner from this early breakdown of party discipline will be the prime minister, says John Rentoul
Keir Starmer’s warning to ministers after cabinet Budget row erupts
Sir Keir Starmer has warned his senior ministers they will have to live with swingeing spending cuts after a cabinet row over the Budget erupted in public.
The prime minister is facing a backlash from Angela Rayner and other members of his top team over cuts to government departments set to be unveiled by the chancellor, Rachel Reeves.
Keir Starmer’s warning to ministers after cabinet Budget row erupts
Angela Rayner leads revolt against ‘huge’ spending cuts in Rachel Reeves’s Budget
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