Question to the Ministry of Housing, Communities and Local Government:

To ask the Secretary of State for Housing, Communities and Local Government, with reference to the written Ministerial Statement of 28 October 2024 on Social and Affordable Housing: Next Steps, HCWS169, whether the fund with Muse Places Limited and Pension Insurance Corporation is (a) grant funding, (b) a loan, (c) a financial guarantee or (d) a financial transaction.

The government’s investment into a joint venture with Muse Places and Pension Insurance Corporation, publicly branded as Habiko, is an equity stake into an investment vehicle – which can be classified as a financial transaction – owned equally between PIC, Muse & Homes England.

Homes England's investment was funded through the Levelling Up Home Building Fund and this partnership plans to deliver 3,000 low-carbon, low-energy affordable homes.