G15 responds to Autumn Statement
Following the Chancellor's Autumn Statement (17 November 2022), G15 Chair, Geeta Nanda OBE, commented:
"We welcome the government's confirmation that social security and the benefit cap will be uprated with inflation. 7 in 10 of the residents we provide affordable rented homes to rely on this support, and we have called for this measure to be confirmed for many months.
“Setting rent levels for next year means looking
carefully at both the challenges people are facing, and the pressing need to
continue investing in existing homes and building much needed new affordable
homes. With inflation driving up costs facing not-for-profit housing
associations, getting this right has been one of the biggest challenges I have
seen in more than 30 years of working in housing.
“Confirmation from the government of the 7% ceiling on
social rent levels for next year will allow organisations to carefully consider
rent setting decisions in the coming months.
“We are deeply concerned by the impact cost of living pressures are having on the people we provide homes to, including shared owners. We also recognise the impact of high inflation on the formula for setting the rental element of shared ownership, and that residents will want to know what their bills will look like for the next financial year, from April 2023.
“We have long said that, if possible, we did not want to apply the maximum increases on rents for shared owners. Now that the government has confirmed its decision on social rent ceilings, all G15 members have confirmed that we will apply the same ceiling (7%) to shared ownership rents.”
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