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 Homes England press release of 15 October 2024, entitled Homes England invests in Schroders Capital’s Real Estate Impact Fund, whether the £50 million of funding is (a) capital spending, (b) revenue spending and (c) a financial transaction.

The Homes England investment into Schroders Capital’s Real Estate Impact Fund was announced following the government’s International Investment Summit. The investment of £50 million was a Financial Transaction from Capital Spending budgets (CDEL- FT) and sits alongside other capital from private sector investors with the aim of generating a financial return for shareholders. The commitment from Homes England will increase the ability of the fund to secure further allocations whilst also enabling the provision of new social and affordable homes and supporting town centre regeneration, key objectives of Homes England.