Housing Revenue Accounts

Ministry of Housing, Communities and Local Government written question – answered on 20th February 2018.

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Photo of Matt Western Matt Western Labour, Warwick and Leamington

To ask the Secretary of State for Housing, Communities and Local Government, when he plans to issue guidance to local authorities on applications to lift Housing Revenue Account borrowing caps; and what the timetable will be for the application process.

Photo of Dominic Raab Dominic Raab Minister of State (Housing, Communities and Local Government)

At Autumn Budget 2017, the Chancellor of the Exchequer announced that we will raise the Housing Revenue Account borrowing cap by a total of up to £1 billion in areas of high affordability pressure for local authorities who are ready to start building new homes. Local authorities will be able to bid for increases in their caps from 2019-20, up to a total of £1 billion by the end of 2021/22. We will set out more details shortly.

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