The National Housing Federation is to cut membership fees in response to the financial impact of recent government policy on housing associations.

The National Housing Federation (NHF) revealed it will cut fees by 1% next year and by a further 4% the year after, outgoing chair Lord Matthew Taylor announced.

In a statement, the NHF said the decision was made because “housing associations across the country are having to make difficult decisions as they seek to adapt their business plans to recent government announcements and ensure that the finances of their businesses are secure and stable”.