Housing Minister Grant Shapps has announced the steps Government will take to overhaul the complex system of council house finance and return financial control to councils themselves - enabling them to offer a better deal to England's four million council tenants. The “route map” - to deliver a more transparent and accountable system of council house financing that places councils firmly in the driving seat - is part of the Government's wider programme of devolving more financial freedom to councils. As part of this Mr Shapps announced an extra £116million funding allocated each year for councils to pay for disabled adaptations to homes and an extra half a billion per year for councils to spend on their stock. He said that these reforms will ensure councils can plan effectively for the long term - enabling them to unlock over £6 billion estimated efficiency savings over 30 years which they will be able to plough into new investment. The HRA will be replaced with a system that provides a direct link between the rents councils charge, the money they spend, and the services they deliver. This means tenants and local taxpayers will be able to hold their landlord to account for the cost and quality of their housing. This will be achieved via a reallocation of housing debt after which councils will retain all the rental income they collect. Read more on the CLG website.
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