One in five professionals working in senior social housing jobs have expressed concerns that next week's emergency budget meeting will lead to the sector's finances being cut by more than 30 per cent.

During the meeting to be held next Tuesday, it is expected that Chancellor George Osborne will summarise plans to cut housing funding as part of the emergency budget. Inside Housing reports that a survey of 152 senior housing professionals, showed that the sector is already preparing itself for a tough future.

The survey, which was carried out by Pricewaterhouse Coopers, found that 20 per cent of those questioned believe affordable housing faces cuts of 30 per cent or more.

Twelve per cent think the national affordable housing budget, which stands at £2.4 billion, will be slashed by more than 40 per cent and all respondents said that the cuts will lead to an increase in waiting lists.

43 per cent or participants believe that it is likely to take more than five years for investment in the industry to return to its current levels.

Many in the housing sector predict the cuts will cause a number of problems over the coming years. Ninety-seven per cent think the cuts will restrict the supply of affordable housing available in the future.

When questioned about possible ways to cope with the reduction in funding, fifty-two per cent said a new system where benefit claimants receive vouchers to pay their housing costs would help support the delivery of new affordable homes.

Richard Capie, the director of policy and practise at the Chartered Institute of Housing said: "Housing benefit is a real unknown. Everyone is mindful of the impact that a freeze in housing benefit would have in terms of business plans."