B

Baroness Taylor of Stevenage (Lab)

Speaking in the House of Lords on 22 June 2026

Debate

Home Ownership: First-time Buyers

Contribution

I thank my noble friend for her recognition of the huge amount of funding—£39 billion, which is the biggest in a generation—allocated by the Government for social and affordable homes to be built. At least 60% of those homes will be for social rent. On 28 January, we published the update to our five-step plan to deliver a decade of renewal. We have had a significant number of bids for the first round of that funding, which will give councils and social housing providers the certainty they need, with the rent convergence procedure we have also introduced. Bids closed on 15 April and we look forward to those houses being built.

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