As mayor of Greater Manchester, Andy Burnham controls a housing fund which has lent £1 billion of taxpayers’ money. It was meant to fix the housing crisis. So where did it go?
Luxury skyscrapers in central Manchester. Developments with 24-hour concierge, dog spas, spin studios, and rooftop bars. Two-bed flats going for more than £400,000.
Of the nearly 11,000 homes built, just 500 were affordable. In Wigan alone, there are more than 10,000 people on the housing waiting list. Yet less than 2% of this housing fund’s lending has gone to building homes in Wigan. While Burnham stood at podiums claiming Wigan had been forgotten by London, he was forgetting it himself.
He talks about ending an era when politicians got too close to wealth. Yet he funnelled £600 million to one man, Darren Whittaker, CEO of Renaker, while other developers who played by the rules couldn't get a look in. That means more than 60% of this Burnham-controlled fund went to a single developer.
This is cronyism. Every year, Burnham jets off to MIPIM in Cannes, a property trade show where the world's property developers compete for his attention. And Renaker is right there with him.
No surprise the money kept flowing - £63 million, £62 million, £70 million. In 2020, there was a £32.4 million loan for The Blade and £37.5 million for Colliers Yard. In 2022, there was £62.3 million for Three60. In 2024, there was £69.2 million for Contour and £70.8 million for Trinity Islands.
Renaker refused to build any meaningful affordable housing, claiming it was not financially viable. But this was not a one-off. It happened across major luxury developments backed by public money.
When Whittaker violated the loan terms, paying himself £42.5 million in dividends, Burnham did nothing. No investigation. No consequences. Just another loan. And after years of taxpayer-backed loans, Whittaker has now relocated to Monaco.
This is what happens when politicians face zero accountability. And when a member of the public confronted Burnham live on air, he said: “You've got the wrong end of the stick.”
A billion pounds of your money. One man. Zero accountability. This is the real Andy Burnham.
Luxury skyscrapers in central Manchester. Developments with 24-hour concierge, dog spas, spin studios, and rooftop bars. Two-bed flats going for more than £400,000.
Of the nearly 11,000 homes built, just 500 were affordable. In Wigan alone, there are more than 10,000 people on the housing waiting list. Yet less than 2% of this housing fund’s lending has gone to building homes in Wigan. While Burnham stood at podiums claiming Wigan had been forgotten by London, he was forgetting it himself.
He talks about ending an era when politicians got too close to wealth. Yet he funnelled £600 million to one man, Darren Whittaker, CEO of Renaker, while other developers who played by the rules couldn't get a look in. That means more than 60% of this Burnham-controlled fund went to a single developer.
This is cronyism. Every year, Burnham jets off to MIPIM in Cannes, a property trade show where the world's property developers compete for his attention. And Renaker is right there with him.
No surprise the money kept flowing - £63 million, £62 million, £70 million. In 2020, there was a £32.4 million loan for The Blade and £37.5 million for Colliers Yard. In 2022, there was £62.3 million for Three60. In 2024, there was £69.2 million for Contour and £70.8 million for Trinity Islands.
Renaker refused to build any meaningful affordable housing, claiming it was not financially viable. But this was not a one-off. It happened across major luxury developments backed by public money.
When Whittaker violated the loan terms, paying himself £42.5 million in dividends, Burnham did nothing. No investigation. No consequences. Just another loan. And after years of taxpayer-backed loans, Whittaker has now relocated to Monaco.
This is what happens when politicians face zero accountability. And when a member of the public confronted Burnham live on air, he said: “You've got the wrong end of the stick.”
A billion pounds of your money. One man. Zero accountability. This is the real Andy Burnham.
