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Housing: Long-Term Plan

Part of the debate – in the House of Commons at 4:06 pm on 9th February 2016.

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Photo of Nick Clegg Nick Clegg Liberal Democrat, Sheffield, Hallam 4:06 pm, 9th February 2016

On my hon. Friend’s point about giving councils greater borrowing powers—this also relates to his earlier point about borrowing powers for housing associations—does he agree that any entity, whether it is a housing association or a council, can be given the right to borrow money only if it has a reliable income stream? That is why when the previous coalition Government cut social rents, they gave a guarantee to housing associations that their revenues would remain stable for a decade and a half. That reliable revenue stream has been torn apart by the new Government.