The Office for National Statistics has started a review
of whether housing associations should be reclassified as public bodies – a
decision which threatens to add £60bn to the national debt. Most housing associations are currently
classified as private corporations, meaning their combined £60bn of borrowing
is not reflected on the national balance sheet. But an Office for National
Statistics spokesperson has confirmed that a review of this classification is
underway – with further detail and a completion date to be published at the end
of September. It follows Prime Minister David Cameron describing housing
associations as “part of the public sector” in Parliament. Read more on Inside
Housing.
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