CONTENTS
SECTION 1: ANNUAL REVIEW
SECTION 2: THE BOARD’S REPORT
Chief Executive’s overview
This was put into perspective when we launched our Life on Universal Credit campaign. Our customer Max agreed to open up his home to us and BBC South Today, to talk about the realities of living on Universal Credit and the impact the increase in the cost of living was going to have on him. He spoke about how his budget of just £20 per week for food and household essentials used to get him 20 items at his local pound shop but is now only stretching to 17. A stark example of what people are dealing with and will continue to experience as the cost of living continues to rise.
Mark Perry Charles has outlined the competing pressures we’ve been navigating that will continue to be high on our agenda for many years to come. I’m proud of the outcomes we’ve achieved over the last year and our continued focus to deliver on our vision of more homes, bright futures.
10
2021-22 ANNUAL REVIEW AND FINANCIAL STATEMENTS
SECTION 3: FINANCIAL STATEMENTS
Putting our customers at the centre of everything we do means prioritising what matters most to them and meeting their expectations. They want us to be there when they need us and respond quickly with authenticity so they can get on with their lives. Last year really cemented this and our role in helping people through difficult times. The culmination of property and rental prices continuing to rise faster than earnings, the cost of living crisis, scrapping of the Universal Credit £20 per week uplift, ending of the furlough scheme and energy price cap review is taking a toll on our communities and their financial wellbeing. This means there are even more people finding it harder to stretch their cash to pay for everyday essentials and an increased demand for more affordable homes.
Whilst we can’t change the forces at play, we’ve focused on being a good neighbour using our position and financial strength to help our customers and communities have bright futures. Whether it be through helping people into work, providing advice to our customers on how to manage their finances, supporting local initiatives like food banks or building more affordable homes. Our people and partners have shown real resilience and determination to do what’s right for our communities and together we’ve achieved so much and want to do more.
