The Welsh Government has called their budget a ‘budget for hard times’, yet it is disappointing that it has failed to support landlords and agents with vulnerable tenants to decarbonise homes. The Cross-Party Group, which Propertymark is part of, believes a cross-sector decarbonisation plan is needed to bring all housing stock up to a standard not just those in the social sector.
Meeting the standard and ambitious expectations to decarbonise housing stock cannot be achieved with the funding that is currently being allocated. How can housing providers deliver on these without scaling back their services and development programmes?
Housing Support Grant
A key area the Finance Minister, Rebecca Evans MS, needs to recognise is the Housing Support Grant (HSG) needs to be increased to meet the impact of inflation and pressure on the homelessness system.
Unprecedented pressures are being felt by local authority homelessness services and freezing funding for the HSG will put even further pressure on local authorities, third-sector providers and all providers of housing including landlords and their agents.
Wales's Draft Budget
Ahead of a Plenary Debate today, 7 February, Evans stated the Welsh Government has taken some very tough decisions, but our approach will ensure every pound invested makes the greatest positive impact.
The Welsh Government's Budget is worth up to £3 billion less over the 3-year spending review period than when it was originally announced, with the 2023-24 Draft Budget worth up to £1 billion less. Wales also faces a £1.1 billion shortfall in funding as a result of the UK Government's post-EU funding arrangements.
