Housing Secretary Angela Rayner stated that there is only a "slim chance" the government will meet its pledge to build 1.5 million new homes in England by the next general election. Rayner acknowledged that factors such as increased construction costs and the ongoing conflict in Iran are creating significant obstacles.
Despite these challenges, Rayner emphasized that the government is committed to the target and is actively working to make progress. She highlighted substantial investments in social and affordable housing as evidence of these efforts. Data available up to March of this year indicated that the pace of construction was not on track to achieve the goal, a concern previously raised by housebuilders who had described the target as overly optimistic.
The Labour party's manifesto promise was to deliver the 1.5 million homes, encompassing both private and social housing, by the end of the current parliamentary term, which could extend to the summer of 2029. This goal necessitates an average annual construction rate of 300,000 new properties, a level not seen in decades.
Speaking on the BBC's Sunday with Laura Kuenssberg program, Rayner described the target as a "stretch target" but insisted on its importance. She asserted her commitment to being transparent with the public about the difficulties in reaching this ambitious goal, while also affirming that the government is not abandoning the objective. She stated, "It's a slim chance, but I'm definitely not giving it up."