Islington Council has welcomed proposed government changes to the way social housing is funded but asked that no cap is put on the amount it can borrow for new home building. The DCLG proposals will give local councils much-needed control over the services they provide and enable them to anticipate - rather than react - to local housing need. Islington has a severe shortage of affordable housing. But the existing national housing subsidy and finance system gives little encouragement to new council home building. Islington has estimated that keeping its surpluses would give the council an extra £850m to spend on repairs and improvements over thirty years, guaranteeing that the Decent Homes standard is maintained over time.
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