Ed Balls has toughened Labour's fiscal position by
pledging not to fund any new policy pledges through extra borrowing. But what
about allowing councils to borrow more for housebuilding? The idea was being
explored as part of the Lyons Review, which is examining how Labour can meet
its pledge to build 200,000 homes a year by 2020. There are good reasons for
doing so. The CIH estimates that raising the cap by £7bn could enable the
construction of 60,000 homes over the next five years. Despite this Labour will
not pledge to lift the cap. A spokesman for Ed Balls said: "We want to
prioritise housing, but we also want to be fiscally responsible." He
suggested that the 200,000 target could be met through other sources such as
self-builders and SMEs. Read more on the New Statesman website.
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