Social Rented Housing: Finance

Ministry of Housing, Communities and Local Government written question – answered on 16th October 2018.

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Photo of Helen Hayes Helen Hayes Labour, Dulwich and West Norwood

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.

Photo of Kit Malthouse Kit Malthouse Minister of State (Housing, Communities and Local Government)

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.

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