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Chancellor George Osborne will once again put the housing sector at the heart of his economic plans today, with a plan to invest almost 拢7bn in housebuilding and a target to deliver 400,000 鈥渁ffordable homes鈥� in England in his Spending Review announcement today.

The pledge will come as the chancellor details 拢20bn of cuts to departmental budgets and 拢12bn of welfare cuts by 2020.

More detail is also exepcted on the government鈥檚 plans for a new apprenticeship levy for major employers - a plan that has cast doubt on the future role of the construction industry鈥檚 training body the CITB.

Construction firms will watch closely for cuts that could impact on the sector, with concerns growing that Osborne , while housing associations are braced for a potential further cut to social rent levels.

The Treasury told the BBC the chancellor will unveil 鈥渢he biggest affordable housebuilding programme since the 1970s鈥� and will include:

• 拢2.3bn paid directly to developers to build so-called 鈥渟tarter homes鈥�, aimed at first-time buyers, who will get a 20% discount on prices up to 拢450,000 in London and 拢250,000 elsewhere
• 拢4bn to help build 135,000 鈥淗elp to Buy: Shared Ownership鈥� homes for households earning less than 拢80,000 (or 拢90,000 in London)
• 拢200m for 10,000 new homes that tenants can live in for five years at reduced rents while they save for a deposit. They will then have 鈥渇irst right鈥� to buy the home
• 拢400m to help build 8,000 specialist homes for older people or those with disabilities

Follow building.co.uk for live coverage, analysis and reaction to the Spending Review throughout the day