Councils have axed thousands of homes planned under
fledgling development programmes, as they battle to accommodate the 1% rent
reduction imposed by the government. An analysis of more than 40 councils’
Housing Revenue Account (HRA) business plans show heavy cuts to capital
investment including housebuilding. South Cambridgeshire, Dover, Cambridge and
Reading are axing or putting on hold plans to build thousands of homes while
Bolsover, Bournemouth and Southampton announced reductions in their capacity. Many
others plan to remove millions from capital expenditure, which include building
and repairs works, as they seek to cover the £2.5bn hole the rent cut leaves in
business plans over four years. Read more on Inside Housing.
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