The BMF says the investment is a major boost for the delivery of social and affordable housing in Birmingham, which will provide significant market stimulus for the long term.
John Newcomb, CEO of the BMF, said: “The Chancellor has earmarked £39 billion to the Affordable Homes Programme for 10 years between April 2026 and March 2036 - to be paid for by the extra capital spending found by changing borrowing rules.
“This is a major boost for Birmingham house builders, housing associations and local authorities and a big increase on previous funding arrangements.
“The extra money could help housing associations buy up thousands of new units that have already been built by private developers as part of their affordable housing commitments, which are currently empty because housing associations cannot afford to buy them.
“It is welcome news that will boost the building of much-need social and affordable housing and provide the crucial market stimulus that the BMF, and other trade associations, have been asking for.”
The BMF says its members are ready to deliver the essential products and skills needed to support the governments’ new spending plans.
John Newcomb added: “Our members play a vital role in ensuring components such as bricks, mortar, insulation products, plasterboard and pipes arrive at building sites when needed.
“They have been actively strengthening their manufacturing, distribution and sale footprint across the UK, which will ensure the people, skills, products and services are in place to support growth.
“This includes investment of more than £860m to scale-up the manufacture and supply of materials to building sites.
“We’ve also launched one of the largest industry sector recruitment programmes, Building Materials Careers, www.bmcareers.com to attract the right talent and skills into the building materials supply network.
“The initiative is the result of a two-year cross industry collaboration, which now has almost 3,000 employment locations across the country.
“This major investment in people and skills has provided huge opportunities and further supports the supply chain for vital building materials.”