Social Rented Housing: Finance

(asked on 11th October 2018) - View Source

Question to the Department for Levelling Up, Housing & Communities:

To ask the Secretary of State for Housing, Communities and Local Government, with reference to the announcement on local authority funding, made by the Prime Minister on 3 October 2018, what plans his Department has to allocate additional funding to local authorities for the provision of social housing provision.


Answered by
Kit Malthouse Portrait
Kit Malthouse
This question was answered on 16th October 2018

The removal of the Housing Revenue Account (HRA) borrowing cap, as announced by the Prime Minister, will enable local authorities to borrow for house building in accordance with the Prudential Code. Once the borrowing cap has been removed, local authorities will be free to borrow to build new social homes without applying to the Government for permission.

Reticulating Splines