Government launches National Housing Bank to drive 500k new builds

• Deputy Prime Minister Angela Rayner has defended Labour's plan to build 1.5 million homes against critics who doubt the feasibility of the target.
• It comes as she announces the launch of the government-backed National Housing Bank, supported by £22bn in government finance.
• The scheme aims to provide low-interest loans to developers and unlock new housing schemes across the UK, aiming to build over 500,000 new homes.
• The announcement follows a Savills forecast that only 840,000 new homes will be completed over the next five years. Government figures show a 28 per cent fall in new-build starts in England compared to 2023.
• Writing for The Independent, Ms Rayner blamed the Tories for the “broken system” and said: “Underestimate me at your peril.”

IN FULL

Defiant Rayner says ‘underestimate me at your peril’ over criticism of huge housing pledge