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UK Pledges 1.5 Billion Pounds for Affordable Housing

British finance minister John Healey announced 1.5 billion pounds in funding for social housing during his budget speech. The government aims to accelerate housebuilding by removing biodiversity rules on brownfield sites.

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Britain's Chancellor of the Exchequer John Healey leaves No. 11 Downing Street, with his Treasury team before delivering his first Budget to the Houses of Parliament, in London, Britain October 28, 2026. Stefan Rousseau/Pool via REUTERS

United Kingdom finance minister John Healey announced £1.5 billion ($2 billion) in funding on Wednesday to accelerate the construction of affordable homes. The package forms part of the government's inaugural budget aimed at boosting national growth. The announcement impacted the GBP/USD currency pair as markets digest the fiscal strategy.