Only a few days to go: We’re raising £25,000 to keep TheyWorkForYou running and make sure people across the UK can hold their elected representatives to account.Donate to our crowdfunder
The hon. Lady will know as a follower of Treasury matters that what we announced yesterday in the Budget with reform of the Public Works Loan Board makes it cheaper for councils to borrow to invest in housing and regeneration. I hope that she will support the changes that we made. The changes we are making to the PWLB will make it harder for councils to waste money on speculative investments outside of their boundaries and get highly indebted, and make it easier to spend money on things that really matter. We have lifted the housing revenue account borrowing cap, and many councils across the country are responding to that and building council houses at a pace that we have not seen for many years, as was reflected in the statistics I gave earlier. We built more council houses last year than we have done for many years, and I hope that her local council in Oxford will do the same, if that is what she wishes.